KUALA LUMPUR (Dec 26): Keyfield International Bhd (KL:KEYFIELD) has issued its maiden RM200 million Islamic bonds (sukuk) under its sukuk wakalah programme of RM1 billion.

The maiden issuance involves one RM100 million sukuk with a three-year tenure and a periodic distribution rate of 4.85%, and another RM100 million sukuk with a five-year tenure and a periodic distribution rate of 4.98%.

The funds will be used to expand its fleet of vessels, and Shariah-compliant purposes including investments and general corporate purposes, capital expenditure, and working capital requirements for oil and gas and non-oil and gas offshore works, and/or to support other maritime-related services.

Keyfield’s group chief executive officer and executive director Datuk Darren Kee Chit Huei said the group is pleased with the positive response and confidence shown by sukuk investors, as well as the seamless execution by Maybank Investment Bank Bhd.

“Achieving a periodic distribution rate of below 5.0% per annum underscores the market’s trust in our business fundamentals and growth prospects. The proceeds will enable us to further expand our business and enhance shareholder returns,” he said

“At the same time, we are cognisant of the responsibility we shoulder to our sukuk holders, which we will diligently carry out. We remain steadfast in prudently and carefully managing our capital structure to deliver lasting value to all stakeholders,” he added.

The RM1 billion sukuk programme has been assigned a long-term rating of AA3 with a stable outlook by RAM Rating Services Bhd.

Maybank Investment Bank is the principal adviser, lead arranger and lead manager for the programme, while Maybank Islamic Bhd serves as shariah adviser.

Shares in Keyfield closed four sen or 1.9% higher at RM2.15 on Thursday, valuing the group at RM1.73 billion. The stock is up 138% since its debut on Bursa Malaysia on April 3.