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Nikkei Markets

Malaysia's Sunway Sets Up Perpetual Islamic Bond Program Of Up To MYR5.0 Bln

By Jason NG
Nikkei Markets
KUALA LUMPUR (Dec 15) -- Malaysian construction giant Sunway said Friday it has set up a perpetual Islamic bond program to raise up to 5.0 billion ringgit ($1.22 billion).

Proceeds from the Islamic medium-term note will be used to finance investment activities, capital expenditure, working capital requirements, and other corporate purposes, Sunway said in an exchange filing. Notes issued under the program will be unrated, it said.

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