KUALA LUMPUR: Financial guarantee insurer, Danajamin Nasional Bhd, and Bank Pembangunan Malaysia Bhd (BPMB) have collaborated to co-guarantee the issuance of an 18-year, RM639 million Senior Sukuk Murabahah (Sukuk) by TRIplc Bhd’s unit, TRIplc Medical Sdn Bhd (TMSB).
In a statement today, Danajamin said, the guarantee marked its second guarantee facility extended to the TRIplc group after the previous sukuk issuance for the construction of Universiti Teknologi Mara (UiTM) Puncak Alam, Selangor.
“The funds raised from the issuance of the Sukuk will be used primarily to part-finance the project’s cost of the new teaching hospital and medical academic centre development in UiTM’s existing campus in Puncak Alam,” it said.
It said the Sukuk was rated ‘AA1/stable’ by RAM Rating Services Bhd premised on the support from the co-guarantors’ irrevocable and unconditional financial guarantee during the construction period.
“This means that the guarantee will not be required once the project has been completed,” it said.
Danajamin Chief Executive Officer (CEO), Mohamed Nazri Omar, said the company would continue to be innovative in how it applied its financial guarantee to create rating diversity and at the same time find new ways to bring developmental as well as economic impact to Malaysia.
“For the past eight years, Danajamin has brought a total of 18 first-time bond/sukuk issuers into the market and has provided its guarantee for bond/sukuk programmes issued by a total of 32 viable Malaysian corporations across various sectors.
“To-date Danajamin has brought about a market impact of approximately RM16 billion,” he said.
BPMB’s President/Group CEO, Shaharuddin Zainuddin, said the bank’s participation in this project reflected its continued commitment to provide financing to the four mandated sectors – infrastructure, oil and gas, maritime and technology.
“We had approved financing totalling RM7.2 billion for 33 private finance initiative projects in the country mainly in infrastructure which include education and healthcare sectors, to-date,” he said. – BERNAMA