KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) has issued its second senior sukuk wakalah of RM800mil pursuant to its sukuk wakalah programme of RM5bil in nominal value.

       The airport operator said the dual-tranche offering comprised a three-year RM500mil with a 3.79% distribution rate per year and a five-year RM300mil at 3.98%.

       “The sukuk issuance represents MAHB’s second issuance under its sukuk wakalah programme since the last issuance in December 2021,” it said in a filing with Bursa Malaysia yesterday.

       It said the sukuk was assigned a credit rating of AAA with a stable outlook by RAM Rating Services Bhd.

       “The proceeds from the issuance would be utilised by its group of companies for working capital requirements, capital expenditure, general investments, general corporate purposes, refinancing of existing borrowings or defrayment fees and expenses under the programme,” it said.

       MAHB pointed out that it managed to tap on prospects of market recovery and garnered respectable demand for its senior sukuk wakalah with a final bid-to-cover ratio of more than 3.5 times the final issue size with the recent reopening of Malaysian international borders.

       “Similar to the previous issuance in December last year, the senior sukuk wakalah was also subsequently upsized from the initial target issue size of RM500mil to RM800mil,” it said.

       In a separate statement, MAHB managing director Datuk Iskandar Mizal Mahmood said the success of the latest issuance was a testament to investors’ confidence in the recovery and growth trajectory on the back of the improving economy as well as international travel.

       “MAHB is well positioned to capitalise on the reopening of borders and our strong fundamentals will help to advance our business in the new era of travel,” he said.

       HSBC Amanah Malaysia Bhd, Maybank Investment Bank Bhd and RHB Investment Bank Bhd are the joint lead managers for the sukuk issuance. — Bernama