PETALING JAYA: Sunway Healthcare Group issued its inaugural Rated Sustainable Sukuk amounting to RM400mil for hospital expansion in Malaysia, aiming for green building accreditation and a capacity of up to 3,000 beds by 2030.
The Sukuk is based on the Islamic principles of Wakalah Bi Al-Istithmar.
Maybank Investment Bank Berhad (Maybank IB) is the sole principal adviser, lead arranger and sustainability structuring adviser, as well as joint lead manager and facility agent, while Maybank Islamic Bhd is the Shariah Adviser of the transaction.
Sunway Healthcare president Datuk Lau Beng Long said in a statement that the Sukuk issuance is timely and has garnered strong interest, given its robust underlying credit profile and market’s familiarity, strong reputation in the healthcare sector, with a focus on sustainability.
“The issuance will largely be used to fund our hospitals under construction.
“With plans to build three to five more hospitals by 2030, we will continue to push the boundaries of clinical excellence, medical innovation and patient outcomes, augmented by the excellent hospitality services we provide our patients,” he said.