IHH Healthcare announced a Sukuk programme by Pantai Holdings of an Islamic commercial paper programme for the issuance of Islamic commercial paper together with an Islamic medium notes programme for the issuance of Islamic medium notes that will have a combined aggregate limit of up to RM15.0 billion in nominal value.

The ICP Programme has a tenure of seven years while the tenure of each ICP to be issued under the ICP Programme will be at least one month and up to twelve month, The IMTN Programme will have a perpetual tenure.

The group said the proceeds from the issuanance be utilised to finance/reimburse or part finance/reimburse investments, acquisition, capital expenditure, working capital requirements and/or the repayment of existing conventional intercompany
borrowings and both existing and future Shariah-compliant intercompany borrowings. And for general corporate purposes ( including without limitation, the payment of fees, costs and expenses in connection with the establishment of the Sukuk Programmes and the issuance of the Sukuk Wakalah); and/or
(c) to refinance both existing conventional debt obligations and Shariah-compliant financing and/or
future Shariah-compliant financing (whether in whole or in part).

OCBC Al-Amin Bank Berhad has been appointed as the sole principal adviser, the lead arranger, the lead manager, the facility agent, the Shariah adviser and the sustainability structuring adviser for the Sukuk Programmes.