KUALA LUMPUR – Danajamin Nasional Berhad (“Danajamin”) today announced that Gema Padu Sdn Bhd’s (“Gema Padu”) RM170 million seven (7) year Islamic Securities programme, which is guaranteed by Danajamin, has been issued. A total of RM100 million sukuk with a four year tenure was issued under the programme and fully subscribed. The issuance was rated AAAIS(fg).
This is the first time Danajamin is providing the financial guarantee to a non public listed company. It is also Gema Padu’s first foray into the sukuk market.
The sukuk was issued following the signing of the Al-Kafalah guarantee facility agreement between Danajamin and Gema Padu in a signing ceremony on 21 March 2011. The issuer is 1 Warisan Sdn Bhd, a special-purpose vehicle wholly owned by Gema Padu. Primarily a property development company, Gema Padu is the developer of the Kota Warisan township.
To date, Danajamin has provided guarantees for RM1.15 billion bond programmes.
Danajamin, the country’s first Financial Guarantee Insurer, was established by the Government to be a catalyst to stimulate and further develop the domestic bond and sukuk market. Danajamin’s objective is to provide financial guarantee, a credit enhancement, to bond/sukuk issuances to help viable companies raise long-term fixed rate financing from the bond/sukuk market. The bond/sukuk market is an important alternative source of financing, as it complements the banking sector. Its continuous development is critical in ensuring that Malaysian companies have several funding sources to finance their business expansion and investments.
Danajamin Nasional Berhad is Malaysia’s first Financial Guarantee Insurer.A AAA-rated company, Danajamin provides financialguarantee insurance to bonds and sukuk issuances to facilitate capital-raising by Malaysian companies from the bond/sukuk markets. Danajamin is wholly owned by the Malaysian Government and has a paid-up capital of RM1 billion with another RM1 billion callable capital. It has a capacity to underwrite policies of up to RM15 billion. Danajamin is licensed under the Insurance Act 1996, and is regulated and supervised by Bank Negara Malaysia.
For more information about Danajamin, its services as well as its leadership, kindly visit our website www.danajamin.com
Tel (03) 2299 2068, (019) 288 2736