Malaysia's Ahmad Zaki gets nod for $308 million Islamic bond


KUALA LUMPUR, Dec 18 (Reuters) - Malaysia's Ahmad ZakiResources Bhd has received regulatory approval fromthe Securities Commission for a 1 billion ringgit ($307.98million) Islamic bond that will be established through itswholly-owned unit EKVE Sdn. Bhd, the construction firm said in astock exchange filing on Wednesday.

Funds from the proposed "sukuk murabahah", which will have atenure of up to 22 years from its issuance date, will be used tofinance the East Klang Valley Expressway in capital KualaLumpur.

Maybank Investment Bank and Bank Pembangunan Malaysia arethe joint principle advisers, lead arrangers and lead managersof the proposed sukuk, while Maybank Islamic is the shariahadviser.

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($1 = 3.2470 Malaysian ringgit) (Reporting By Anuradha Raghu; Editing by Jane Merriman)

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