Keyfield International Bhd has lodged the required information and relevant documents relating to the Sukuk Wakalah Programme of up to RM1 billion in nominal value with the Securities Commission Malaysia.
The Sukuk Wakalah Programme, based on the Shariah principle of Wakalah Bi Al-Istithmar, has been assigned a long-term rating of AA3 with a stable outlook by RAM Rating Services Bhd. The programme itself is structured with a tenure of 30 years, and each Sukuk Wakalah issued under the programme will have a tenure of one year and above.
The proceeds raised from the Sukuk Wakalah Programme will be utilised to finance Keyfield's Shariah-compliant purposes including investments and general corporate purposes, capital expenditure, working capital requirements and refinancing of future financing, if applicable.
Keyfield intends to utilise the proceeds for oil and gas (O&G) and non-O&G offshore works, and/or to support other maritime-related services.
Maybank Investment Bank Bhd serves as the principal advisor, lead arranger and lead manager for the programme while Maybank Islamic Bhd acted as the Shariah advisor.
