1. Introduction

KLCC Property Holdings Berhad (“KLCCP” or the “Issuer”) is pleased to announce that KLCCP had on 8 March 2024 lodged the required information and relevant documents in relation to the Sukuk Wakalah Programme with the Securities Commission Malaysia (“SC”) pursuant to the Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework effective on 15 June 2015 and revised on 5 February 2024, as amended from time to time.

On 5 April 2024, KLCCP has successfully issued its first issuance of Sukuk Wakalah amounting to an aggregate of RM1.95 billion in nominal value pursuant to the Sukuk Wakalah Programme (“First Issuance”).

2. Details of the Sukuk Wakalah Programme

The Sukuk Wakalah Programme shall have a perpetual programme tenure and allows for the issuance of Sukuk Wakalah from time to time, provided that the aggregate outstanding nominal value of Sukuk Wakalah shall not exceed the Sukuk Wakalah Programme’s size of RM5.0 billion at any one time.

Each Sukuk Wakalah to be issued under the Sukuk Wakalah Programme may be issued on a rated, unrated or a combination of rated and unrated, as mutually agreed between the Issuer and the Lead Manager prior to issuance of the relevant Sukuk Wakalah. The Sukuk Wakalah Programme has been accorded a final credit rating of AAA by RAM Rating Services Bhd.

The proceeds from the issuance of Sukuk Wakalah under the Sukuk Wakalah Programme shall be utilized by the Issuer for the following Shariah-compliant purposes:

1. To finance working capital requirements, acquisitions, investments, capital expenditures and general corporate purposes of KLCCP and its subsidiaries (“KLCCP Group”);
2. To refinance any existing borrowings/ Shariah-compliant financings and/or future Shariah-compliant financings of KLCCP Group; and/or
3. To pay all fees, cost and expenses relating to the Sukuk Wakalah Programme.

Under the Sukuk Wakalah Programme, KLCCP would also have the flexibility to issue Sustainability Sukuk Wakalah and/or Sustainability-Linked Sukuk Wakalah.

For the avoidance of doubt, for purposes of the Sukuk Wakalah Programme, KLCCP Group does not include KLCC Real Estate Investment Trust.

3. Issuance Details

For the First Issuance, KLCCP has issued AAA-rated Sukuk Wakalah with the following key terms:

The proceeds raised from the First Issuance will be utilized by the Issuer to finance the acquisition of 40% equity interest in Suria KLCC Sdn Bhd.

4. Advisers

Maybank Investment Bank Berhad is the Sole Principal Adviser, Sole Lead Arranger and Sole Lead Manager for the Sukuk Wakalah Programme.

Maybank Islamic Berhad is the Shariah Adviser for the Sukuk Wakalah Programme.

This announcement is dated 5 April 2024.