Wednesday, June 23, 2010

Axiata declines on sukuk plans

KUALA LUMPUR: Axiata Group Bhd share price declined Wednesday, June 23 after the company said it was firming up the details to issue sukuk bonds worth RM4.2 billion to refinance its current debts due to expire.

The group aims to term out its loans by five to seven years.

At 9.50am, Axiata shed two sen to RM3.92 with 332,900 shares traded.

The sukuk tenures will be five, seven and 10 years respectively. The group was in the midst of drawing up a new dividend policy, which it expects to announce at end-July.

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