AXIATA to sell bulk of RM4.2b sukuk to EPF?

Axiata Group Bhd is expected to sell the bulk of its planned RM4.2 billion Islamic bonds to the Employees Provident Fund (EPF), sources said.

“There’s a signing ceremony with the EPF next week and the provident fund is taking up about RM3 billion. There will be two other investors on top of the provident fund,” said a source familiar with the matter.

Bloomberg yesterday quoted Axiata’s chief financial officer Datuk Yusof Annuar Yaacob as saying in an interview with the news agency that the country’s second-biggest mobile phone operator planned to sell RM4.2 billion of Islamic bonds next week to refinance debt.

He was reported as saying that the sukuk, which will have maturities of five, seven and 10 years, would be privately placed out.

Axiata had hit its 52-week high of RM4.32 on Tuesday, but eased to close at RM4.30 yesterday. Its 52-week low stood at RM2.91 on Oct 29, 2009.




by Joyce Goh