Malakoff’s Unit Issues RM800 Mln Sukuk Wakalah

KUALA LUMPUR, March 15 (Bernama) — Malakoff Corp Bhd’s unit Tanjung Bin Energy Sdn Bhd (TBE) has issued a RM800 million Sukuk Wakalah.

In a filing to Bursa Malaysia today, Malakoff said proceeds from the Sukuk Wakalah would be utilised for the redemption of the outstanding junior term-loan facility in an aggregate amount of RM1.29 billion pursuant to a turnkey contract.

The Sukuk Wakalah is expected to have a positive impact on the net assets and gearing of Malakoff Corp…..

(Bernama)

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