PLUS Expressways 4.10% Sukuk Musharakah 2032
MYBMX2300456 · Infrastructure
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AAAMusharakahMYR🛣️ Infrastructure
PLUS Expressways 4.10% Sukuk Musharakah 2032
Issued by Projek Lebuhraya Usahasama Berhad
Current Yield
4.28%
+0.13% vs issuance
Coupon Rate
4.10%
at issuance 4.15%
Maturity
5.9yr
01 Mar 2032
Face Value
MYR 5.0B
3.8x oversubscribed
Issuance Details
- ISIN
- MYBMX2300456
- Structure
- Musharakah
- Issuance Date
- 01 Mar 2023
- Maturity Date
- 01 Mar 2032
- Tenor
- 9 years
- Status
- Active
- Lead Arranger
- Maybank Investment Bank
- Trustee
- Maybank Trustees Berhad
Ratings
RAM
Stable outlook
Rated 15 Feb 2023
MARC
Stable outlook
Rated 18 Feb 2023
Use of Proceeds
Refinancing of existing debt and capital expenditure for highway maintenance and expansion.
Plain-Language Summary
AI-ReadyPLUS Expressways' Musharakah sukuk structures the highway concession assets as a shared partnership (Musharakah). Investors co-own a portion of the expressway assets and share in the toll revenue. The AAA rating from both RAM and MARC reflects PLUS's dominant market position and the strategic importance of Malaysian expressway infrastructure.