According to the press release, the issuance is subject to completion of all the statutory requirements, obtaining all regulatory approvals, including State Bank of
Elaborating this, the KE spokesperson stated, "The proceeds of SUKUK will be primarily utilized to pre-pay the existing long term debt to obtain benefit of improved pricing and extended maturity profile. In this way, the Sukuk will help in significantly reducing the borrowing cost with a positive impact on Company's profitability and cash flows. It will also help in promoting Islamic capital market in
The initiative of KE to issue Sukuk has attracted many investors earlier as well. The subject issue will also be a good opportunity for investors to earn a good rate of return on Shariah Compliant instrument.
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