AEON CO. has proposed to establish an Islamic Commercial Papers Programme and an Islamic Medium Term Notes Programme with a combined aggregate limit of up to RM2 billion in nominal value based on the Shariah principle of Wakalah Bi Al-Istithmar.
The Sukuk Wakalah Programmes allow for the issuance of Sukuk Wakalah from time to time, provided that the aggregate outstanding nominal value of Sukuk Wakalah shall not exceed the Sukuk Wakalah Programmes' combined limit of RM2 billion at any one time.
AEON said the ICP Programme will have a programme tenure of seven years while the IMTN Programme shall have a perpetual programme tenure.
The ICP Programme and IMTN Programme have been accorded credit ratings of P1 and AA2 respectively by RAM Rating Services Bhd.