The Axiata Group’s Sri Lankan arm, Dialog Axiata, has received approval from the Securities Commission Malaysia to establish a sukuk (Islamic bond) programme. Proceeds raised from the bond issue will be used to meet Dialog’s investments, operational expenses, capital expenditure, working capital, and the refinancing of debts – the use of the proceeds should comply with sharia principles. HSBC Amanah Malaysia and Maybank IB have been appointed the joint principal advisers, joint lead arrangers, and joint lead managers for the sukuk programme.
