SapuraKencana inks US$2.1b Islamic loan facility
Date: 17.12.2015.

Publication source: The Star Online

KUALA LUMPUR : SapuraKencana Petroleum Bhd, via its subsidiary SapuraKencana TMC Sdn Bhd (SKTMC), has signed a US$2.1bil murabahah term-financing facility with a consortium of Malaysian, regional and international banks.

In a statement yesterday, the company said the six-year multi-currency facility would be used to refinance SKTMC’s existing short-term Islamic facility, which is due next year.

The Islamic facility is reflective of its continued commitment to retain its status as a syariah-compliant security under the List of Syariah-Compliant Securities issued by the Syariah Advisory Council of the Securities Commission, said SapuraKencana.

“The six-year Islamic facility matches the longer-term business profile of SKPB and is one of our proactive measures to prepare for long-term resilience.

This contributes to the sustainability of the group’s competitiveness and better positions us to navigate through the current period of uncertainty,” said SapuraKencana President and Group Chief Executive Officer Tan Sri Shahril Shamsuddin.

Maybank Investment Bank Bhd acted as the coordinating bank, bookrunner and arranger for the facility.