Golden-Agri issues maiden $600 million Islamic bond

Oil palm plantation firm Golden Agri-Resources has issued its first sukuk in Malaysia worth RM1.5 billion (S$600 million). The sukuk will expire in five-year's time - in November 2017. The funds gained through the sukuk are planned to be used for the general corporate purposes of the company and are expected to strengthen its financial flexibility for growth. The issuance of the Islamic bond is a part of a RM5 billion programme.