AirAsia Joins Growing Band of Companies Selling Perpetual Sukuk

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Malaysian budget carrier AirAsia Bhd. (AIRA) plans to sell perpetual sukuk as it joins a growing number of issuers selling Islamic debt with no set maturity.

The company has approval from the securities commission to set up a 1 billion ringgit ($304 million) sukuk program, according to a stock exchange filing today. The bonds will be callable after the fifth, seventh, or 10th year, a factor that will be determined prior to issuance. The debt isn’t rated.

Full report: http://www.bloomberg.com/news/2014-10-30/airasia-joins-growing-band-of-companies-selling-perpetual-sukuk.html

Bursa Malaysia Filing: http://www.bursamalaysia.com/market/listed-companies/company-announcements/1780489