PETALING JAYA: The domestic corporate sukuk market saw a series of fresh issuances yesterday, with Sunway Group, Paramount Corp Bhd and Perak Transit Bhd respectively moving to tap the debt capital market for project financing, refinancing and broader funding flexibility.
Sunway Cochrane Sdn Bhd, an indirect unit of Sunway Bhd, completed the issuance of its first Islamic medium-term notes under a RM2bil sukuk wakalah programme.
The inaugural tranche, labelled Tranche 1 Series 1 Green Sukuk Wakalah, raised RM182.712mil with a five-year maturity ending on Dec 6, 2030.
Paramount Corp’s funding vehicle, Paramount Capital Resources Sdn Bhd (PCR), also returned to the market under its RM800mil sukuk murabahah programme, with an issuance of RM25.7mil new sukuk with a 12-year tenure.
The company has cumulatively issued and redeemed RM209.5mil under the programme to date. The longer-dated issuance is expected to further support the group’s capital management and long-term financing profile, as Paramount continues to expand its property and education-related businesses.
Meanwhile, Perak Transit took a structural step rather than issuing fresh debt, lodging the required documentation for its new sukuk wakalah programme with the Securities Commission under the Lodge and Launch Framework.