| Bahrain's Mumtalakat Holdings has issued a 20-year RM3 billion medium-term sukuk programme, with the proceeds raised to be used partly to pay off its existing debt. The issuance is part of Mumtalakat's strategy to proactively manage its long-term refinancing and debt maturity profile.
Prior to the issuance, Mumtalakat said it had secured a strong investment grade rating of "AA2" from RAM Ratings Bhd. Mumtakalat chief executive officer Mahmood Al Kooheji said it sought the rating as part of its objective to pursue the highest level of transparency and provide platforms to keep institutional investors informed about it here and in Bahrain...............................................Full Article: Source |