PUTRAJAYA: Pengurusan Aset Air Bhd (PAAB) and CIMB Investment Bank Bhd are set to sign transaction agreements on Monday, Oct 26 for PAAB's Islamic commercial papers and Islamic medium term notes programmes of up to RM20 billion.
CIMB Investment Bank was appointed the lead arranger, manager and bookrunner for the sukuk, which is the largest water-related bond programme ever established in Malaysia.
In a statement released before the signing, PAAB said the first tranche of the sukuk, totalling RM2.5 billion, was priced at 2.7% for the one year, 4.40% five-year and 5.05% for 10 year tenures.
"Offered through a book-building exercise, the initial offer for investors was RM2 billion and was subsequently upsized to RM2.5 billion due to strong demand. The order book reached as high as RM4.15 billion with orders coming from a diversified base of investors," the statement said.
The funds raised, among others, will be used to repay PAAB's debts, working capital and for PAAB's acquisition of state water assets and development of water supply infrastructure.
PAAB, to date, it has bought water assets from Melaka, Negeri Sembilan and Johor, and its currently negotiating with other state governments to work out an amicable sale and leaseback agreement.
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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