IslamicFinance.de

In #Malaysia Danajamin Nasional is guaranteeing a 17-year sukuk murabahah programme amounting to RM300 million for Chellam Plantations. The first tranche of the programme amounting to RM150 million with a tenure of up to 17 years, was issued and subscribed last Friday. Funds from the sukuk issuance will support Chellam Plantations’ new planting in Kalimantan and expansion in Indonesia. Proceeds from the sukuk will also be used to refinance its outstanding borrowings and finance its capital expenditures. Joint lead arrangers of the transaction are RHB Investment Bank and OCBC Al-Amin Bank.

OCBC Al-Amin Bank Bhd has opened its first Islamic Premier Banking Centre at the newly opened branch, the 11th, at Kota Kemuning in Shah Alam. The move will cater to high net worth individuals seeking sophisticated Islamic banking products and services. With the opening of the first Islamic Premier Banking centre here in Kota Kemuning, the bank hopes to raise the bar in Islamic banking products and services for the high net worth segment. The bank's inaugural Premier Banking Centre includes a private customer discussion area, parking, safe deposit boxes and full-time premier banking tellers. Previously, the only available premier banking centres for Islamic banking were those shared with conventional banking entities.

Paramount Corporation will raise RM550 million via a RM200 million perpetual bond sale and a RM350 million sukuk programme, which was put together by Paramount in cooperation with Hong Leong Investment Bank, OCBC Al-Amin Bank and RHB Investment Bank. The money will be used for capital expenditure and working capital, to buy land as well as to fund a new campus. Paramount will become the first private company to issue perpetual bonds which will be issued to institutional investors.

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.