Malaysia's AEON Credit to raise $277 mln from sukuk

May 12, 2015 10:39 AM

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KUALA LUMPUR May 12 Malaysia's Aeon Credit Service (M) Bhd, a financial services company, said on Tuesday it planned to raise 1 billion ringgit ($276.63 million) via Islamic bonds for working capital, repayment of debt and provide financing for its customers.

Issuance from the 7-year sukuk murabaha programme will have tenures of between 1 and 12 months. The company received approval from the Securities Commission of Malaysia on May 8.

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