PETALING JAYA: Malaysia Marine and Heavy Engineering Holdings Bhd

(MHB) has raised RM350mil via the issuance of Islamic medium-term notes under its RM1bil Sukuk Murabahah Programme.

In a filing with Bursa Malaysia, MHB noted the issuance was split across two tranches - Series 002 worth RM130mil with a 3-year tenure, maturing on Nov 6, 2029 at a profit rate of 4.48% per annum (p.a) and Series 003 worth RM220mil with a 5-year tenure, maturing on Nov 6,  2031 at a profit rate of 4.69% p.a.

Both series feature semi-annual profit payments and full redemption at maturity. Assigned an AA-IS rating with a positive outlook by MARC Ratings Bhd, the unsecured and unlisted notes will fund MHB’s capital expenditure, working capital needs, general corporate purposes, and intergroup advances.