null ALR turning to Sukuk Mart to fund deal
ALR turning to Sukuk Mart to fund deal
7 Apr 2022 | Thursday Source: New Straits Times
Amanat Lebuhraya Rakyat Bhd (ALR), a "not-for-profit" private company, is turning to the sukuk market to pay for its proposed multi-billion ringgit takeover of four highways in the Klang Valley.
Analysts said ALR would issue about RM5.5 billion of non-government guaranteed sukuk to raise funds to buy all the equities and debt of Kesas, Lebuhraya Damansara-Puchong (LDP), Sprint and Smart Tunnel highways.
The sukuk will be collateralised by future toll collections.
ALR has the mandate to help restructure certain toll highway concessions and absolve the government from paying compensation to the identified concession companies from Jan 1 this year, analysts said.