April 13, 2015 / 10:26 AM / 5 years ago

Malaysia's KLK to raise up to 1.6 bln ringgit from multi-currency sukuk

KUALA LUMPUR, April 13 (Reuters) - Malaysian plantation company Kuala Lumpur Kepong (KLK) Bhd will raise up to 1.6 billion ringgit ($431.9 million) from Islamic bonds, rating agency RAM Ratings said on Monday.

The multi-currency sukuk programme expires in 2027 and was rated AA1 or stable by RAM Ratings in a statement.

Officials in KLK could not be immediately reached for comment.

Shares in KLK, which has a market capitalisation of 24.3 billion ringgit, fell 0.78 percent on Tuesday against a 0.12 percent fall in the broader index. ($1 = 3.7050 ringgit) (Reporting by Al-Zaquan Amer Hamzah; Editing by Anand Basu)

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