KUALA LUMPUR: Keyfield International Bhd has filed for up to RM1.0 billion in sukuk Wakalah to the Securities Commission (SC).
In a filing with Bursa Malaysia, the company said the funds from the sukuk will be used for Shariah-compliant purposes.
This includes investments, general corporate activities, capital expenditures, working capital, and refinancing of future financing.
"Keyfield intends to utilise the proceeds for oil and gas and non-oil and gas offshore works, and/or to support other maritime-related services," it said.
Keyfield group chief executive officer and executive director Datuk Darren Kee Chit Huei said the sukuk enables the company's access to the debt capital market at competitive rates.
This ultimately enhancesw shareholder returns by providing the flexibility to pursue new strategic investment opportunities at lower costs.
"This represents a balanced financing strategy, allowing us to optimise our debt management while diversifying our funding sources.
"The AA3 rating underscores our strong creditworthiness while upholding our conservative financial profile, which we consider essential for managing our group's operations.
Maybank Investment Bank Bhd is the principal adviser, lead arranger and lead manager for the programme, with Maybank Islamic Bhd acting as the shariah adviser.