MHB completes RM350 million sukuk issuance across two series
The proceeds are earmarked for capital expenditure, working capital, general corporate purposes and/or advances to group companies.
Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) said it completed a RM350 million sukuk murabahah issuance on Nov 6, 2026. The two-series issuance falls under its programme with a limit of RM1.0 billion, according to a Bursa Malaysia filing.
The company outlined the terms of the two series as follows:
- RM130 million: three years, with maturity on Nov 6, 2029 and an annual profit rate of 4.48%.
- RM220 million: five years, with maturity on Nov 6, 2031 and an annual profit rate of 4.69%.
MHB said it would use the funds for capital expenditure, working capital, other general corporate purposes and/or advances to companies within the group. Both the purposes and the manner of using the proceeds will comply with shariah requirements, it said.
The financing will raise group borrowings and gearing, while adding financing costs throughout the sukuk tenure. MHB said it does not expect an immediate material impact on either its consolidated net assets or its earnings per share.
MARC Ratings Bhd assigned the sukuk an AA-IS rating and a positive outlook.
HSBC Amanah Malaysia Bhd is the sole coordinator. Together with Maybank Investment Bank Bhd, it also serves as joint principal adviser, joint lead arranger and joint lead manager.
