Axiata Group Bhd is issuing a $500-million Islamic bond, which forms the second portion of the mobile telecommunication network provider’s multi-currency $1.5-billion sukuk scheme.
In a statement to Bursa Malaysia last Friday, the group said the five-year sukuk carried an annual profit rate of 3.466 per cent.
The company said, the sukuk was expected to be listed on Bursa Malaysia and the Singapore bourse.
Axiata president and group chief executive officer Jamaludin Ibrahim said, in a separate statement, that the sukuk had attracted interest from Islamic and conventional institutional investors, including asset management and insurance firms, aside from sovereign wealth funds.
“Similar to the first series of RMB sukuk issued in 2012 under the sukuk programme, we are pleased that the response for this sukuk issuance was positive. Despite the challenging business environment and volatility in the marketplace today, the strong participation from international investors is a testament to our solid fundamentals.
“Axiata is focused on our long-term strategy to be a regional champion, and will continue to look towards opportunities in the capital markets to strengthen our capital base and support our aspirations,” he said.