IslamicFinance.de

A Taliworks Corporation Bhd joint venture has received the Securities Commission’s approval for the proposed issuance of the RM210mil Sukuk Murabahah. Taliworks said the Sukuk would be issued by Grand Sepadu (NK) Sdn Bhd, a joint venture in which it has a 75%. The proceeds from the issuance of the Sukuk Murabahah will be utilised to facilitate the roll-over of the short term syndicated bridging loan facility of up to RM200mil undertaken by GSNK into the Sukuk Murabahah and for working capital purposes. Taliworks said Hong Leong Investment Bank Bhd is the principal adviser and lead arranger for the Sukuk Murabahah.