Dialog to establish Islamic Medium Term Note Programme

Dialog Axiata's Board of Directors has approved the proposed establishment of a Malaysian Ringgit denominated Islamic Medium Term Note Programme, under the Shariah principle of Murabahah of up to Ringgit Malaysia Rs.1.2 billion in nominal value with tenure of 15 years in Malaysia.

Pursuant to the above, the company may, under the Sukuk programme issue Sukuk Murabahah from time to time involving selected Shariah compliant commodities.

Dialog said, it will utilize the proceeds raise from the Sukuk Murabahah to refinance of existing debt and Sukuk issued under the Sukuk Progra, payment of fees and expenses in connection with the refinancing of the existing debt and the Sukuk program.

In addition the company will use it to fund investments, cover operational expenses and capital expenditure and other corporate and funding purposes.

CSE