Golden Agri-Resources, one of the world’s largest palm oil companies, announced on Monday that it raised 1.5 billion ringgit ($490 million) from selling five-year Islamic medium-term notes, called sukuk.
The sale is part of a larger plan to sell up to 5 billion ringgit in notes, the company said in a statement published on its website on Monday. The notes will mature in November 2017, it said. The company considers Malaysia the ideal location for the sale of its sukuk given the country’s well-established and advanced sukuk market with abundant liquidity, coupled with its familiarity with the palm oil industry in general, Golden Agri-Resources said……………………………………….Full Article: Source