OTHERS Proposed Establishment of Islamic Medium Term Notes ("IMTN") Programme ("IMTN Programme") and Islamic Commercial Papers ("ICP") Programme ("ICP Programme"), both with a combined aggregate limit of up to RM4.0 billion in nominal value, based on the Shariah principle of Murabahah (via Tawarruq arrangement) ("Sukuk Programmes")

UEM SUNRISE BERHAD

Type Announcement
Subject OTHERS
Description
Proposed Establishment of Islamic Medium Term Notes ("IMTN") Programme ("IMTN Programme") and Islamic Commercial Papers ("ICP") Programme ("ICP Programme"), both with a combined aggregate limit of up to RM4.0 billion in nominal value, based on the Shariah principle of Murabahah (via Tawarruq arrangement) ("Sukuk Programmes")

UEM Sunrise Berhad (“UEM Sunrise” or the “Company”) is pleased to announce that it has lodged with Securities Commision Malaysia the required information and relevant documents relating to the ICP Programme and IMTN Programme on 5 October 2021 and 6 October 2021, respectively pursuant to the Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework effective on 15 June 2015 and revised on 26 April 2021, and as amended from time to time (“LOLA Guidelines”).

The Sukuk Programmes will give UEM Sunrise the flexibility to raise funds via the issuance of ICP and/or IMTN (collectively, referred to as “Sukuk Murabahah”) from time to time. Additionally, the Sukuk Programmes shall also provide the flexibility for UEM Sunrise to issue Sukuk Murabahah which will be in compliance with the following guidelines, frameworks or standards, as amended from time to time (collectively, the “Sustainability Guidelines/Frameworks”):

      (a)   the Sustainable and Responsible Investment (“SRI”) Sukuk framework under the LOLA Guidelines;

      (b)   the ASEAN Green Bond Standards issued by the ASEAN Capital Markets Forum (“ACMF”) in November 2017;

      (c)   the ASEAN Social Bond Standards issued by the ACMF in October 2018;

      (d)   the ASEAN Sustainability Bond Standards issued by the ACMF in October 2018; and

      (e)   such other guidelines or frameworks or standards, whether or not having the force of law, in relation to SRI Sukuk / sustainability / social / green bonds issued from time to time,

(Sukuk Murabahah issued under such Sustainability Guidelines/Frameworks shall be referred to as “ASEAN Sustainability SRI Sukuk Murabahah”).

The proceeds raised from the issuances of Sukuk Murabahah shall be utilised by the Company and/or its subsidiaries for its Shariah-compliant general corporate purposes, which shall include the following:

      (a)   acquisition of land banks;

      (b)   acquisition of company(ies);

      (c)   investments (including capital injections into the Company’s subsidiaries, associates and joint ventures companies);

      (d)   project development cost and infrastructure cost;

      (e)   capital expenditure;

      (f)   general expenditure; and

      (g)   refinancing of Islamic financing/outstanding loan facilities.

In the event that the ASEAN Sustainability SRI Sukuk Murabahah are issued, the proceeds raised from the issuance shall be utilised for the purposes set out above, provided that each issuance meets the criteria as set out in UEM Sunrise’s Sustainability Sukuk Framework and the applicable Sustainability Guidelines/Frameworks under which such ASEAN Sustainability SRI Sukuk Murabahah are issued.

UEM Sunrise’s Sustainability Sukuk Framework is established to set out clear and transparent guidelines for the issuances of ASEAN Sustainability SRI Sukuk Murabahah, which covers the following four core components of the Sustainability Guidelines/Frameworks:

      (a)   Utilisation of proceeds;

      (b)   Process for project evaluation and selection;

      (c)   Management of proceeds; and

      (d)   Reporting.

UEM Sunrise’s Sustainability Sukuk Framework will be available at https://www.uemsunrise.com.

The ICP Programme has been assigned a preliminary rating of MARC-1IS and the IMTN Programme has been assigned a preliminary rating of AA-IS respectively by Malaysian Rating Corporation Berhad.

CIMB Investment Bank Berhad and Maybank Investment Bank Berhad are the Joint Principal Advisers, Joint Lead Arrangers, Joint Lead Managers and Joint Sustainability Structuring Advisers for the Sukuk Programmes.

This announcement is dated 6 October 2021.






Announcement Info

Company Name UEM SUNRISE BERHAD
Stock Name UEMS
Date Announced 06 Oct 2021
Category General Announcement for PLC
Reference Number GA1-06102021-00060