Malaysia's Maxis issues 840m ringgit in first series of sukuk

[KUALA LUMPUR] Malaysian mobile phone operator Maxis Bhd said on Monday it had issued bonds worth 840 million ringgit (S$300.5 million) in the first series of its Islamic bond programme.

The tenure is for 10 years from the issue date, according to a stock exchange filing.

Maxis, controlled by Malaysia's second richest man Ananda Krishnan, plans to raise as much as 5 billion ringgit from a 30-year unrated sukuk murabaha programme to refinance debt and fund capital requirements.

CIMB, sole principal adviser and lead arranger for the programme, was the sole lead manager for the issue.

REUTERS