KUALA LUMPUR, Feb 20 – Malaysian mobile phone network operator Maxis Bhd has obtained the approval from the Securities Commission for the proposed issuance of a RM2.45 billion (US$804.99 million) sukuk, according to a local stock exchange filing today.

Maxis said on Feb 16 it intended to use RM1.45 billion of the 30-years sukuk to refinance its existing loans while the rest will be used for capital expenditure and other operational purposes.

CIMB Investment Bank Bhd, a unit of CIMB Group Holdings Bhd, is the sole principal adviser and sole lead arranger for the sukuk. – Reuters