Malaysia's UMW issues RM 500 million notes to swap with old sukuk

By Marisa Wong

Madison, Wis., May 9 - UMW Holdings Bhd. completed its second issuance of Islamic medium-term notes, totaling RM 500 million, on Thursday, according to an announcement by Maybank Investment Bank Bhd.

The notes were issued under the company's up to RM 2 billion sukuk program established on Feb. 8 and will replace its existing RM 500 million sukuk issued in September 2009.

The notes will have the same maturity date and profit rate as the outstanding notes.

UMW is an industrial company with interests in the automotive, equipment, manufacturing and engineering and oil and gas industries. It is based in Shah Alam, Malaysia.

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