KUALA LUMPUR, Sept 6 (Reuters) - Malaysia Airports Holdings Bhd (MAHB) has sold 500 million ringgit ($151.29 million) worth of Islamic bonds, or sukuk, to raise funds for a 4 billion ringgit terminal for budget airlines.
MAHB previously told Reuters that the company plans to raise 1 billion ringgit in sukuk, as costs for the terminal had risen to 4 billion ringgit from 3.1 billion ringgit after numerous delays.
The sukuk, which was oversubscribed by 3.4 times, was taken up by a group comprising government agencies, corporate buyers and financial institutions, MAHB said in a statement on Friday.
CIMB Investment Bank Berhad, Citibank Berhad, HSBC Amanah Malaysia Berhad, and Maybank Investment Bank Berhad are advising MAHB on the sukuk.
Kuala Lumpur International Airport 2, set to be the world’s largest terminal for budget airlines, plans to serve 45 million passengers each year to meet the growing number of visitors using Malaysia as an entry point to Southeast Asia.
($1 = 3.2750 Malaysian ringgit)
Reporting By Al-Zaquan Amer Hamzah,; Editing by Matt Driskill