KUALA LUMPUR: Celcom Axiata Bhd, a wholly owned subsidiary of Axiata Group Bhd, has placed out RM4.2 billion nominal value unrated Sukuk under a private offering to Employees Provident Fund Board (EPF), CIMB Islamic Bank Bhd and MALAYAN BANKING BHD [] (Maybank).
In a statement on Wednesday, Aug 18, Celcom said the sukuk issuance, with tenures ranging from five to ten years, will be issued by its wholly owned subsidiary Celcom Transmission (M) Sdn Bhd (CTX).
This is part of an internal exercise to streamline Celcom's business functions and to establish a network-centric entity whereby Celcom's telecommunication network business will be transferred to CTX, it said.
Under this sukuk issuance, EPF will subscribe RM3.4 billion while the balance of RM800 million will be taken up equally by both banks.
CIMB Investment Bank Bhd and Maybank Investment Bank Bhd are the joint principal advisers, joint lead arrangers and joint lead managers for the sukuk issuance.
Celcom said this internal exercise was a component of Axiata's group-wide initiative to transform its regional back-end operations to drive efficiencies, enhance cost savings and create value.
This is expected to be accomplished through, amongst others, greater infrastructure sharing, establishment of shared services, joint TECHNOLOGY []/procurement initiatives, improved capital expenditure management process and leveraging on best practices, it said.
As this exercise is undertaken entirely within Celcom, its customers and business partners will not be affected, it said.
In a statement on Wednesday, Aug 18, Celcom said the sukuk issuance, with tenures ranging from five to ten years, will be issued by its wholly owned subsidiary Celcom Transmission (M) Sdn Bhd (CTX).
This is part of an internal exercise to streamline Celcom's business functions and to establish a network-centric entity whereby Celcom's telecommunication network business will be transferred to CTX, it said.
Under this sukuk issuance, EPF will subscribe RM3.4 billion while the balance of RM800 million will be taken up equally by both banks.
CIMB Investment Bank Bhd and Maybank Investment Bank Bhd are the joint principal advisers, joint lead arrangers and joint lead managers for the sukuk issuance.
Celcom said this internal exercise was a component of Axiata's group-wide initiative to transform its regional back-end operations to drive efficiencies, enhance cost savings and create value.
This is expected to be accomplished through, amongst others, greater infrastructure sharing, establishment of shared services, joint TECHNOLOGY []/procurement initiatives, improved capital expenditure management process and leveraging on best practices, it said.
As this exercise is undertaken entirely within Celcom, its customers and business partners will not be affected, it said.
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