OTHERS THP SURIA MEKAR SDN. BHD. PROPOSED UNRATED ISLAMIC MEDIUM TERM NOTES PROGRAMME OF UP TO RM1.08 BILLION IN NOMINAL VALUE BASED ON THE SHARIAH PRINCIPLE OF WAKALAH BI AL-ISTITHMAR ("SUKUK WAKALAH PROGRAMME")
|TH PLANTATIONS BERHAD|
THP SURIA MEKAR SDN. BHD. PROPOSED UNRATED ISLAMIC MEDIUM TERM NOTES PROGRAMME OF UP TO RM1.08 BILLION IN NOMINAL VALUE BASED ON THE SHARIAH PRINCIPLE OF WAKALAH BI AL-ISTITHMAR ("SUKUK WAKALAH PROGRAMME")
TH Plantations Berhad (THP or the Company) is pleased to announce that THP Suria Mekar Sdn. Bhd. (TSM) a special purpose vehicle of THP has on 17 June 2022 completed the lodgement of the Sukuk Wakalah Programme with the Securities Commission Malaysia (SC) pursuant to the SCs Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework issued by the SC on 9 March 2015 and revised on 30 May 2022 (as amended from time to time) (LOLA Guidelines).
The Sukuk Wakalah Programme allows for the issuance of senior Islamic medium term notes (Senior Sukuk Wakalah) and/or subordinated perpetual Islamic notes (Perpetual Sukuk Wakalah) based on the Shariah principle of Wakalah Bi Al-Istithmar to be guaranteed by THP. The Sukuk Wakalah Programme will have a perpetual programme tenure.
The Senior Sukuk Wakalah and Perpetual Sukuk Wakalah shall collectively be referred to as Sukuk Wakalah.
The proceeds of each Sukuk Wakalah issued under the Sukuk Wakalah Programme shall be utilised for the following purposes, which shall be Shariah compliant:-
For the avoidance of doubt, the proceeds of the Sukuk Wakalah can be advanced within THP Group via Shariah-compliant facilities for the afore-mentioned purposes, which shall be Shariah-compliant.
THP Group means THP group of companies.
Maybank Investment Bank Berhad is the Principal Adviser, Lead Arranger and Lead Manager for the Sukuk Wakalah Programme.
This announcement is dated 17 June 2022.
|Company Name||TH PLANTATIONS BERHAD|
|Date Announced||17 Jun 2022|
|Category||General Announcement for PLC|