Maybank Investment Bank Berhad (Maybank IB) announced the signing of Sime Darby Berhad's (Sime Darby) Islamic Medium Term Note (IMTN) Programme of RM4,500 Million and Islamic Commercial Paper (ICP) / Islamic Medium Term Note Programme of RM500 Million with a Combined Master Limit of RM4,500 Million (the IMTN Programme and the ICP/IMTN Programme are collectively known as "the Islamic Programmes"). The Securities Commission had, on 24 September 2009, given its approval for the Islamic Programmes.
The signing ceremony and investor presentation for the Islamic Programmes were held at the Sime Darby Convention Centre on 14 October 2009, and attended by representatives from all transaction parties. The Issuer was represented by Dato' Seri Ahmad Zubir Murshid, President and Group Chief Executive of Sime Darby and Madam Tong Poh Keow, Group Chief Financial Officer of Sime Darby, while Maybank IB, the Principal Adviser / Lead Arranger / Joint Lead Manager, was represented by Dato' Sri Abdul Wahid Omar, President and CEO of Maybank, and Mr. John Chong, Managing Director and Head of Debt Markets, Maybank IB.
The other Joint Lead Managers were represented by Mr Lee Kok Kwan, Deputy CEO, Group Treasury & Investment, CIMB and Tan Sri Dato' Sri Tay Ah Lek, Managing Director of Public Bank Berhad and Mr. Teoh Cheng Soon, CEO of Public Investment Bank Berhad. The other party to the transaction included Mayban Trustees Berhad.
The proceeds raised from the Islamic Programmes will be utilised to finance Sime Darby and its subsidiaries' (the Group) acquisitions and capital expenditure, working capital requirements as well as to refinance certain debt obligations (whether in whole or in part) of the Group.
Speaking at the signing ceremony today, Dato' Sri Abdul Wahid said that the Maybank Group is proud to be working on this transaction to assist Sime Darby in meeting its medium to long-term funding requirements.
"The strength of the AAA-rated Islamic Programmes reflects Sime Darby's position as a leading conglomerate and the world's largest listed oil palm plantation group," he said.
"We also believe that the Islamic Programmes will inject the Malaysian capital market with further depth and promote it in line with the Government's initiative to propel Malaysia as a renowned global Islamic hub through the Malaysian International Islamic Financial Centre (MIFC).
Dato' Sri Abdul Wahid expressed confidence that investors will find the notes issued under the Islamic Programmes as a premier investment and a valuable contribution to their bond portfolio and investment strategy.
"The Islamic Programmes is structured based on the widely-accepted Islamic finance principle of Musyarakah, which is very popular with local and international capital market players."