KUALA LUMPUR, July 18 (Bernama) — IJM Corporation Berhad (“IJM”), via its wholly-owned subsidiary, Fairview Valley Sdn Bhd (“Fairview Valley”), have today entered into a subscription agreement with CIMB Investment Bank Berhad and CIMB Islamic Bank Berhad (collectively “CIMB”) for its proposed inaugural RM360.0 million nominal value Sukuk Murabahah to be issued under an Islamic Medium Term Notes Programme based on the Shariah-principle of Murabahah (via Tawarruq arrangement) (“Sukuk Murabahah Programme”). CIMB acted as the Sole Lead Arranger, Sole Lead Manager and Sole Shariah Adviser for the Sukuk Murabahah Programme, which will also be fully subscribed by CIMB.
In addition to being Fairview Valley’s inaugural Sukuk Murabahah issuance, the transaction incorporates sustainability-linked features with pre-agreed targets. The transaction’s terms include features such as energy and water efficiency performance indicators and renewable energy composition of the assets. Profit rebates will be granted should Fairview Valley achieve these targets, thus lowering the overall cost of financing whilst also advancing sustainability practices.