Malaysia's Maxis gets nod for $805 mln sukuk

KUALA LUMPUR Mon Feb 20, 2012 6:01am EST

KUALA LUMPUR Feb 20 (Reuters) - Malaysian mobile phone network operator Maxis Bhd has obtained the approval from the Securities Commission for the proposed issuance of a 2.45 billion Malaysian ringgit ($804.99 million) sukuk, according to a local stock exchange filing on Monday.

Maxis said on Feb 16 it intended to use 1.45 billion ringgit of the 30-years sukuk to refinance its existing loans while the rest will be used for capital expenditure and other operational purposes.

CIMB Investment Bank Bhd, a unit of CIMB Group Holdings Bhd , is the sole principal adviser and sole lead arranger for the sukuk. ($1 = 3.0435 Malaysian ringgits) (Reporting By Yantoultra Ngui; Editing by Hans-Juergen Peters)

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