KUALA LUMPUR: societe Generale has received the approvals from Bank Negara Malaysia and the Securities Commission to launch a multi-currency Islamic medium term notes (IMTNs) programme in Malaysia.
Societe Generale, which is one of the largest European financial services groups, said on Thursday the proposed IMTNs programme would have a nominal value of up to RM1bil and a tenure of up to 15 years.
Hong Leong Islamic Bank Bhd is the lead arranger on the deal and Societe Generale's principal adviser.
Amanie Advisors Sdn Bhd, Societe Generale's Shariah advisor, has certified the Shariah compliance of the IMTNs which will be issued under the Shariah principle of Sukuk Wakalah Bil Istithmar. It would be issued via a new and dedicated offshore incorporated issuance entity.