PLUS set to issue RM30.6 bln sukuk, largest in the world

The Edge Malaysia

KUALA LUMPUR (Jan 8): Projek Lebuhraya Usahasama Bhd (PLUS Bhd) is set to issue RM30.60  billion Sukuk to part finance the purchase of assets, liabilities, businesses, undertakings and rights of five toll concessions.

PLUS said on Sunday the sukuk issuance scheduled for Jan 12 would be the the largest global Sukuk and Malaysia’s single largest bond issuance to-date.

The Sukuk issuance follows the privatisation of PLUS Expressways Bhd (PEB) – one of Malaysia’s largest privatisation exercises – and the restructuring of the toll concessions under PEB and Penang Bridge Sdn Bhd (PBSB),” it said.

PLUS added the concession agreements of these highways would be novated to PLUS Bhd, a unit of PLUS Malaysia Sdn Bhd.

PLUS Malaysia is an investment vehicle of UEM Group Bhd (51%) and Employees Provident Fund Board (EPF; 49%).