KUALA LUMPUR (March 31): Sapura Energy Bhd’s wholly-owned unit Sapura TMC Sdn Bhd is making an early redemption of sukuk murabahah under its RM7 billion multi-currency sukuk programme.
According to Bank Negara Malaysia’s (BNM) Fully Automated System for Issuing/Tendering (FAST) website, Maybank Investment Bank Bhd posted the announcement on behalf of the company.
“As the facility agent, we wish to notify that the issuer will be redeeming all outstanding amounts under stock code nos. VK150191, VI160018, VK170106, VK170107, VK170108, VK170109 and VK170110 on March 31, 2021 (today),” Maybank said on behalf of Sapura TMC.
Yesterday, Sapura said it had executed multi-currency financing facilities (MCF) to raise over RM10.3 billion.
The facilities, it said, comprise two term loan facilities of approximately US$602 million (RM2.5 billion) and RM906 million respectively, and unrated sukuk murabahah amounting to US$125 million (RM518.5 million) and RM6.38 billion.
Sapura TMC inked a conventional facilities agreement with Malaysian, regional and international banks for the two term loan facilities. The sukuk murabahah was executed with a consortium of Malaysian banks under its Multi-Currency Sukuk Programme.
The facilities have a tenure of seven years and are guaranteed by Sapura Energy. It comes with the condition that its largest shareholder, Permodalan Nasional Bhd (PNB), continues to have over 33% stake in the oil and gas (O&G) outfit in the period. PNB currently holds a 40.1% equity interest in the company.
“The proceeds from the MCF 2021 shall be utilised towards full settlement of all amounts payable and outstanding by Sapura TMC under a 2014 conventional facility, a 2015 Islamic facility, a 2017 conventional facility and the existing outstanding sukuk murabahah under the Multi-Currency Sukuk Programme,” Sapura Energy said yesterday.
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