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Islamic Finance Briefing - Categorized | Bonds (Sukuk), New Launches more

Malaysia Airlines raises funds with $785mln bond

Posted on 13 June 2012

Malaysia Airlines said yesterday its 2.5 billion ringgit ($785 million) Islamic bond has been fully sold, allowing it to tap a new source of funds as it tries to recover from losses. Chief Executive Ahmad Jauhari Yahya said Retirement Fund Inc, which is a Malaysian state pension fund, has bought 1 billion ringgit ($314 million) of the bonds.
The airline, which suffered a hefty 2.52 billion ringgit ($791 million) loss last year, has said it aims to return to the black by 2014. Ahmad Jauhari said the Islamic bond, also known as a sukuk, would help the company shore up its capital while implementing a recovery plan………………………………………..Full Article: Source

 
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