Kuala lumpur: IOI Properties Group Bhd’s (IOIPG) wholly-owned subsidiary Fortune Premiere Sdn Bhd has completed its seventh issuance of sukuk murabahah amounting to RM1 billion in nominal value under its existing multi-currency Islamic medium term note programme of up to RM3 billion.

According to BERNAMA News Agency, the latest issuance comprises three tranches. Tranche 9 has a nominal value of RM150 million, a tenure of seven years, and a profit rate of 3.79 percent. Tranche 10 has a nominal value of RM300 million, a 10-year tenure, and a profit rate of 3.85 percent. Meanwhile, Tranche 11 has a nominal value of RM550 million, a 15-year tenure, and a profit rate of 4.04 percent.

IOIPG stated that the proceeds raised from this issuance will be used by the company or its subsidiaries for Shariah-compliant purposes, including capital expenditure, working capital requirements, refinancing of existing borrowings, and general corporate purposes.

The joint lead managers for the seventh issuance are AmInvestment Bank Bhd, Maybank Investment Bank Bhd, and RHB Investment Bank Bhd.