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Maxis Unit to Issue MYR1 Billion Dual-Tranche Sukuk

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Maxis (KLSE:MAXIS) unit Maxis Broadband issued two tranches of Sukuk Murabahah, totaling 1 billion ringgit, under its existing 10 billion ringgit debt program, according to a Tuesday Malaysian bourse filing.

Shares slid about 2% in Wednesday's midday trade.

The issuance comprises two equal portions of 500 million ringgit each. The first tranche carries a 7-year tenure maturing on May 19, 2033, while the second has a 10-year tenure maturing on May 19, 2036.

Proceeds will be used for debt refinancing, capital expenditure and general working capital needs of the group.

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