OTHERS ESTABLISHMENT OF A SUKUK MURABAHAH ASSET-BACKED SECURITISATION PROGRAMME OF RM2.0 BILLION IN NOMINAL VALUE UNDER THE SHARIAH PRINCIPLE OF MURABAHAH (VIA TAWARRUQ ARRANGEMENT) ("SUKUK PROGRAMME") VIA ZAMARAD ASSETS BERHAD ("ZAMARAD") BACKED BY FINANCING 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 RM2.0 BILLION IN NOMINAL VALUE UNDER THE SHARIAH PRINCIPLE OF MURABAHAH (VIA TAWARRUQ ARRANGEMENT) ("SUKUK PROGRAMME") VIA ZAMARAD ASSETS BERHAD ("ZAMARAD") BACKED BY FINANCING 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 ZAMARAD.
ZAMARAD is a trust-owned special purpose bankruptcy remote vehicle incorporated solely for the Sukuk Programme and successfully launched its first issuance of RM265.0 million on 27 March 2019.
RCEM is the Originator of the Financing Receivables forming the underlying assets for the Sukuk Programme and has also been appointed to act as the Servicer in respect of the first tranche issued under the Sukuk Programme.
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 AA2 for the respective senior classes of Sukuk Murabahah in respect of the first tranche of the Sukuk Programme.
This marks RCE Capital Berhad’s fifth venture into the debt capital markets.
AmInvestment Bank Berhad, CIMB Investment Bank Berhad and Hong Leong Investment Bank Berhad are the Joint Principal Advisers/Joint Lead Arrangers/Joint Lead Managers of the Sukuk Programme.
This announcement is dated 27 March 2019. |
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Announcement Info
| Company Name | RCE CAPITAL BERHAD |
| Stock Name | RCECAP |
| Date Announced | 27 Mar 2019 |
| Category | General Announcement for PLC |
| Reference Number | GA1-27032019-00018 |