Danajamin Nasional Bhd, the country\u2019s first Financial Guarantee Insurer, has announced that it is guaranteeing a five-year RM130 million Sukuk Ijarah Programme issued by Malaysia Steel Works (KL) Bhd (Masteel).<\/p>\n
The said Sukuk, is rated AAA by Malaysian Rating Corporation Bhd following the backing of an irrevocable and unconditional Kafalah Guarantee provided by Danajamin.<\/p>\n
The principal adviser\/lead arranger, lead manager, Shariah adviser and facility agent for this transaction is Kuwait Finance House (Malaysia) Bhd.<\/p>\n
Commenting on the Sukuk programme, Mohamed Nazri Omar, Chief Executive Officer of Danajamin said, \u201cThis guarantee marks another milestone for Danajamin as we facilitate another viable company raise its required financing. Masteel has almost 50 years of track record.\u201d<\/p>\n
\u201cThey have endured several crises throughout their establishment and have since grown from strength to strength as one of the key players in the industry. Through our guarantee, we hope to instill investors\u2019 confidence and assist Masteel to successfully deliver their business objective and continue to contribute meaningfully to the nation\u2019s economy.\u201d<\/p>\n
Datuk Seri Tai Hean Leng, Managing Director\/ Chief Executive Officer of Masteel shared, \u201cWe wish to express our gratitude to Danajamin and KFH for believing in our strengths and seeing us as a gem. We are truly privileged to receive the support through Danajamin\u2019s guarantee for this issuance.\u201d<\/p>\n
\u201cThe funds available from this issuance will be used primarily for refinancing, working capital requirement and for the acquisition of a new melting technology package. This technology will be a game changer for Masteel, putting us well ahead of the competition. The issuance will not only improve our liquidity position but will enable Masteel to expand our operation in line with the installation of the new facilities.\u201d<\/p>\n
To date, Danajamin has guaranteed 37 issuers, with a total guarantee size of RM10.6 billion. The total market impact of these deals, through risk-sharing collaboration with partner banks, stands at RM21.1 billion.<\/p>\n
\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
Danajamin Nasional Bhd, the country\u2019s first Financial Guarantee Insurer, has announced that it is guaranteeing a five-year RM130 million Sukuk Ijarah Programme issued by Malaysia Steel Works (KL) Bhd (Masteel). The said Sukuk, is rated AAA by Malaysian Rating Corporation Bhd following the backing of an irrevocable and unconditional Kafalah Guarantee provided by Danajamin. The […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[],"class_list":["post-2382","post","type-post","status-publish","format-standard","hentry","category-markets"],"_links":{"self":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/2382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/comments?post=2382"}],"version-history":[{"count":1,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/2382\/revisions"}],"predecessor-version":[{"id":6442,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/2382\/revisions\/6442"}],"wp:attachment":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/media?parent=2382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/categories?post=2382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/tags?post=2382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}