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

UEM Group to issue RM2.2bln 30-yr Sukuk

Posted on 14 June 2012

UEM Group Bhd has proposed a 30-year Islamic medium-term notes (MTN) programme of up to RM2.2bil. RAM Rating Services Bhd had on Wednesday assigned a long-term rating of AA2 to the Sukuk, which would be issued by United Growth Bhd - which is a unit of UEM Group. The long-term rating has a stable outlook.
The ratings agency said through an irrevocable and unconditional purchase undertaking between United Growth and UEM, the latter would buy the portfolio units from United Growth at a price equal to the exercise price………………………………………..Full Article: Source

 
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