Malaysia's Sapuracrest gets 750 mln rgt Islamic finance facility

Mon Jan 10, 2011 11:28am GMT
 

KUALA LUMPUR Jan 10 (Reuters) - Malaysia's Sapuracrest Petroleum secured a 750 million ringgit ($244 million) Islamic financing facility to fund its expansion, the lead arranger of the deal said on Monday.

Maybank Investment said it signed an angreement with Sapuracret's unit for the facility that include Malaysian ringgit and U.S. dollar denominated tranches.

The deal, which employs the Ijarah, Bai' Al Inah and Murabahah concepts, attracted strong demand with a total of six participating financiers, said Maybank who also acted as the bookrunner. ($1 = 3.069 Malaysian Ringgits) (Reporting by Niluksi Koswanage)

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