Section Heading

Section Heading

Issuance Of Senior Islamic Medium Term Notes ("Senior Sukuk Wakalah") Of RM1.6 Billion In Nominal Value Pursuant To An Islamic Notes Issuance Programme Of Up To An Aggregate Limit Of RM5.0 Billion In Nominal Value For The Issuance Of Senior Sukuk Wakalah And/Or Subordinated Perpetual Islamic Notes Based On The Shariah Principle Of Wakalah Bi Al-Istithmar ("Sukuk Wakalah Programme")

BackNov 22, 2024
Type Announcement
Subject OTHERS
Description MALAYSIA AIRPORTS HOLDINGS BERHAD ("MAHB" OR "THE COMPANY") - ISSUANCE OF SENIOR ISLAMIC MEDIUM TERM NOTES ("SENIOR SUKUK WAKALAH") OF RM1.6 BILLION IN NOMINAL VALUE PURSUANT TO AN ISLAMIC NOTES ISSUANCE PROGRAMME OF UP TO AN AGGREGATE LIMIT OF RM5.0 BILLION IN NOMINAL VALUE FOR THE ISSUANCE OF SENIOR SUKUK WAKALAH AND/OR SUBORDINATED PERPETUAL ISLAMIC NOTES BASED ON THE SHARIAH PRINCIPLE OF WAKALAH BI AL-ISTITHMAR ("SUKUK WAKALAH PROGRAMME")

MAHB is pleased to announce that on 22 November 2024, the Company has successfully issued a triple-tranche Senior Sukuk Wakalah in aggregate of RM1.6 billion in nominal value (“Sukuk Issuance”) from its Sukuk Wakalah Programme, with the following salient terms:

 Tranche 6Tranche 7Tranche 8
Nominal Value RM400 million RM600 million RM600 million
Issue Date 22 November 2024 22 November 2024 22 November 2024
Maturity Date 22 November 2029 21 November 2031 22 November 2034
Tenure 5 years 7 years 10 years

Periodic Distribution Rate

(per annum, payable semi-annually)

3.95% 4.02% 4.08%

The Senior Sukuk Wakalah issued under the Sukuk Wakalah Programme carries a credit rating of “AAA” with a stable outlook by RAM Rating Services Berhad in September 2024 and the proceeds from the Sukuk Issuance shall be utilised by MAHB Group of Companies for working capital requirements, capital expenditure, general investments, general corporate purposes, refinancing of existing borrowings or financings of MAHB Group and/or defrayment of fees and expenses under the Sukuk Wakalah Programme, all of which shall be Shariah compliant.

The Sukuk Issuance marks MAHB’s successful return to the debt capital markets since its last issuance in 2022 during the Covid-19 pandemic. The aviation industry has since witnessed a robust recovery, with MAHB Group registering 10.2% increase in passenger volume in September 2024 from the 10.4 million passengers recorded in September 2023. This strong recovery showcases the resilience of the aviation sector and MAHB’s ability to adapt and grow in a challenging environment, and further supports MAHB’s strategic return to the Malaysian debt capital markets.

The offering attracted a diverse investor base and generated robust demand, achieving a peak orderbook in excess of RM5.7 billion, which represents both an oversubscription rate of more than 3.6 times and the largest orderbook ever achieved by MAHB compared to its past Senior Sukuk issuance. On the back of a strong and healthy orderbook, MAHB successfully tightened its offering yield and achieved a final profit rate of 3.95% p.a., 4.02% p.a. and 4.08% p.a., representing the tightest spread ever achieved by MAHB across the respective tenors.

HSBC Amanah Malaysia Berhad, Maybank Investment Bank Berhad and RHB Investment Bank Berhad are the Joint Lead Managers for the Sukuk Issuance.

This announcement is dated 22 November 2024.


Announcement Info

Company Name MALAYSIA AIRPORTS HOLDINGS BERHAD
Stock Name AIRPORT
Date Announced 22 Nov 2024
Category General Announcement for PLC
Reference Number GA1-21112024-00027