KDU unit to issue RM350m sukuk ijarah

The Paramount Corporation, a wholly-owned subsidiary of KDU University College, plans to issue Islamic medium-term notes (sukuk ijarah) of up to RM350 million in nominal value. Hong Leong Investment Bank, OCBC Al-Amin Bank and RHB Investment Bank are the joint principal advisers, arrangers and lead managers for the sukuk programme. The Securities Commission Malaysia had approved the issuance of the proposed sukuk programme via a letter on January 31.