Axiata to raise up to US$1 bil through sukuk

KUALA LUMPUR: Axiata Group Bhd, Malaysia’s third-biggest telecom operator by number of subscribers, is looking to raise up to US$1 bil (RM4.25 bil) through the sale of sukuk, it said on Wednesday.

Izzaddin Idris, the group’s deputy chief executive, said Axiata hoped to complete the issuance next month.

Half the funds will be used for refinancing, primarily for Axiata’s subsidiaries, he told reporters. – July 29, 2020, Reuters

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