Overview Our Business
Strategic Review Corporate Governance
Financial Statements
Other Information
page
143
Notes to the Financial Statements
31 December 2015
30 BORROWINGS (CONTINUED)
(d) Islamic Medium Term Notes (continued)
(ii)
Sukuk Murabahah
On 17 June 2015, the Company established an Unrated Islamic Medium Term Notes (“Sukuk Murabahah”) Programme with an
aggregate nominal value of up to RM5.0 billion, based on the Islamic principle of Murabahah (via a Tawarruq arrangement) (“Unrated
Sukuk Murabahah Programme”). The Unrated Sukuk Murabahah Programme has a tenure of 30 years from the date of the first
issuance of Sukuk Murabahah under the Unrated Sukuk Murabahah Programme.
On 22 June 2015, the Company issued the first series of Sukuk Murabahah amounting to RM840,000,000, in nominal value, for a
tenure of 10 years, of which RM420,750,000 was utilised to repay one instalment of the USD750,000,000 syndicated term loan as
disclosed in Note 30(b) to the financial statements. It is redeemable on its maturity date on 20 June 2025. 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 Unrated Sukuk Murabahah Programme.
(e) Non-current and unsecured Commodity Murabahah Term Financing
On 2 April 2014, the Company entered into an agreement for Commodity Murabahah Term Financing facility up to RM2.50 billion based on the
Islamic principle of Murabahah. This facility has a tenure of 10 years from its first utilisation, which is repayable in one lump sum on 7 April
2024. In the prior year, the Company had drawn down RM2.15 billion of the facility amount of which RM500,000,000 and RM420,750,000
were utilised for repayment of the RM500,000,000 revolving credit facility and the initial instalment of the USD750,000,000 syndicated
term loan as disclosed in Notes 30(f) and 30(b) to the financial statements respectively. The remaining RM350,000,000 of the facility was
drawn down during the financial year, which was utilised to repay part of one instalment of the USD750,000,000 syndicated term loan as
disclosed in Note 30(b) to the financial statements.
(f) Current unsecured revolving credit
In the prior year, RM500,000,000 revolving credit facility was fully repaid on its maturity date, 22 September 2014.
