Maxis Berhad
Annual Report 2015
page
142
Notes to the Financial Statements
31 December 2015
30 BORROWINGS (CONTINUED)
(c) Non-current unsecured term loans (continued)
(ii)
USD100,000,000 term loans
These term loans were all drawn down on 28 February 2011 and are repayable in one lump sum on their respective loan maturity
dates, 28 February 2021. As disclosed in Note 22 to the financial statements, the Company has entered into CCIRS where the
principal sum and interest under these term loans are hedged against fluctuations in USD/RM exchange rate and in LIBOR.
(iii) SGD70,000,000 term loan
This term loan was drawn down on 28 February 2011 and is repayable in one lump sum on the loan’s maturity date, 28 February
2021. As disclosed in Note 22 to the financial statements, the Company has entered into CCIRS where the principal sum and interest
under this term loan is hedged against fluctuations in SGD/RM exchange rate and in SOR.
(iv) USD75,000,000 term loan
This term loan was drawn down on 14 June 2011 and is repayable in one lump sum on the loan’s maturity date, 14 June 2021.
As disclosed in Note 22 to the financial statements, the Company has entered into CCIRS where the principal sum and interest under
this term loan is hedged against fluctuations in USD/RM exchange rate and in LIBOR.
(d) Islamic Medium Term Notes
(i)
Sukuk Musharakah
On 24 February 2012, the Company established an unrated Islamic Medium Term Notes Programme with an aggregate nominal value
of up to RM2.45 billion (“Sukuk Programme”) based on the Islamic principle of Musharakah. The Sukuk Programme has a tenure of
30 years from the date of first issue under the Sukuk Programme.
On the same date, the Company made the first issuance under the Sukuk Programme of RM2.45 billion nominal value with a tenure
of 10 years (“Sukuk Musharakah”), redeemable on its maturity date on 24 February 2022. The profit is payable semi-annually.
Maxis Mobile Services Sdn. Bhd. and Maxis Broadband Sdn. Bhd., both wholly-owned subsidiaries of the Company provide
unconditional and irrevocable corporate guarantees under the Sukuk Programme.
