Malaysia's Sime Darby gets nod to set up $1.85 bln Islamic bond

Malaysia's Sime Darby gets nod to set up $1.85 bln Islamic bond

KUALA LUMPUR - Malaysia's Sime Darby Bhd , the world's largest listed palm oil company by planted areas, has won approval from authorities to set up an Islamic bond worth up to $1.5 billion (S$1.85 billion) to fund working capital requirements.

Sime Darby said the bond, which comes in a multi-currency sukuk programme and will be listed on both the Malaysian and Singaporean bourses, will also finance its capital expenditure and general corporate purposes, according to a stock exchange filing on late Friday.

The joint principal advisers for the programme are HSBC Amanah Malaysia Bhd and Maybank Investment Bank Bhd, and the joint lead arrangers are Citigroup Global Markets Ltd, HSBC Amanah Malaysia Bhd, Maybank Investment Bank Bhd and Standard Chartered Bank.

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