Axiata Group Bhd said Wednesday its Malaysian unit Celcom Axiata Bhd has raised 5 billion ringgit ($1.60 billion) via an issuance of Islamic bonds, or sukuk, to partly retire existing debt and finance capital expenditure.
The sukuk range in maturity from three to 10 years. It is the second sukuk program set up by Axiata Group this year following an earlier $1.5 billion equivalent multi-currency sukuk issued in July. The latest bond issue is estimated to save more than MYR350 million over the remaining tenure of an existing unrated sukuk, the company said in a statement to the Malaysian stock exchange………………………………………..Full Article: Source