OTHERS ESTABLISHMENT OF A SUKUK MURABAHAH ASSET-BACKED SECURITISATION PROGRAMME OF UP TO RM900.0 MILLION IN NOMINAL VALUE ("SUKUK PROGRAMME") VIA AL DZAHAB ASSETS BERHAD ("ADA") BACKED BY LOAN RECEIVABLES ORIGINATED BY RCE MARKETING SDN BHD ("ORIGINATOR"/"RCEM"), A WHOLLY-OWNED SUBSIDIARY OF RCE CAPITAL BERHAD
| RCE CAPITAL BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | ESTABLISHMENT OF A SUKUK MURABAHAH ASSET-BACKED SECURITISATION PROGRAMME OF UP TO RM900.0 MILLION IN NOMINAL VALUE ("SUKUK PROGRAMME") VIA AL DZAHAB ASSETS BERHAD ("ADA") BACKED BY LOAN RECEIVABLES ORIGINATED BY RCE MARKETING SDN BHD ("ORIGINATOR"/"RCEM"), A WHOLLY-OWNED SUBSIDIARY OF RCE CAPITAL BERHAD |
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RCE Capital Berhad is pleased to announce the establishment of the Sukuk Programme via ADA. ADA is a trust-owned special purpose bankruptcy remote vehicle incorporated solely for the Sukuk Programme and successfully launched its first issuance of RM155.48 million on 21 June 2016. RCEM is the Originator of the Loan Receivables forming the underlying assets for the Sukuk Programme and has also been appointed to act as the Servicer. The Sukuk Programme is expected to increase the capital funds of the Originator/RCEM for future business growth. As such, the Sukuk Programme is expected to contribute positively to the earnings of RCE Group in future years. RAM Rating Services Berhad has assigned ratings of AAA and AA3 for the respective senior class sukuk murabahah in respect of the first tranche of the Sukuk Programme. This marks RCE Capital Berhad’s fourth venture into the debt capital markets. AmInvestment Bank Berhad and Hong Leong Investment Bank Berhad are the Joint Principal Advisers, Joint Lead Arrangers and Joint Lead Managers. This announcement is dated 23 June 2016.
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Announcement Info
| Company Name | RCE CAPITAL BERHAD |
| Stock Name | RCECAP |
| Date Announced | 23 Jun 2016 |
| Category | General Announcement for PLC |
| Reference Number | GA1-23062016-00085 |