Bursa Filings
Proposed Issuance of Bank Guaranteed Sukuk Ijarah Of Up To Rm500.0 Million In Nominal Value Under A Sukuk Programme
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Apr 28, 2008
| Type | Announcement |
| Subject | AIRASIA BERHAD (“AIRASIA” OR THE COMPANY”) PROPOSED ISSUANCE OF BANK GUARANTEED SUKUK IJARAH OF UP TO RM500.0 MILLION IN NOMINAL VALUE UNDER A SUKUK PROGRAMME |
| Contents | Pursuant to our announcement dated 10 April 2008, the Board of Directors of AirAsia is pleased to announce that its wholly owned subsidiary, Aras Sejagat Sdn Bhd (“Aras Sejagat” or the “Issuer”) proposes to issue bank guaranteed Sukuk of up to RM500.0 million in nominal value pursuant to the Islamic principle of Ijarah under an issuance programme (“Sukuk Programme”) of up to five (5) years. The Securities Commission has, vide its letter dated 25 April 2008, approved the application in respect of the Sukuk Programme. The Sukuk has been assigned a long-term rating of AA+(bg) by Malaysian Rating Corporation Berhad. The proceeds raised from the Sukuk Programme shall be utilised to part finance the capital expenditure requirements of AirAsia, to pay the estimated expenses incurred or to be incurred for the purposes of or in connection with the Sukuk Programme, funding the Ijarah service reserve account for the purpose of the Sukuk Programme and general working capital of AirAsia. The Joint Principal Advisers, Joint Lead Arrangers and Joint Lead Managers for the Sukuk Programme are Bank Islam Malaysia Berhad and Kuwait Finance House (Malaysia) Berhad. The Guarantor for the Sukuk Programme is Kuwait Finance House (Malaysia) Berhad. The Joint Lead Arrangers for the Bank Guarantee Facility are Bank Islam Malaysia Berhad, Bank Kerjasama Rakyat Malaysia Berhad and Kuwait Finance House (Malaysia) Berhad. This announcement is dated 28 April 2008. |
Announcement Info
| Company Name | AIRASIA BERHAD |
| Stock Name | AIRASIA |
| Date Announced | 28 Apr 2008 |
| Category | General Announcement |
| Reference No | CMC-080428-747C0 |