WCTHG 5.800% Perpetual Corp (MYR)

Sukuk Factsheet

Sukuk

Matured/ Called

WCT Holdings Berhad

Indicative

Full Lot

Bid Price

99.850

Change in Bid Price

Bid Yield (%)

Change in Bid Yield

Ask Price

100.300

Change in Ask Price

Ask Yield (%)

Change in Ask Yield

Indicative price as of 30 Sep 2024, 12:00am

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Sukuk Information

WCT Holdings Berhad provides civil engineering, specializing in earthworks, highway construction, and related infrastructure works. The Company also operates in property investment and development as well as trades building materials.

Sukuk Issuer

WCT Holdings Berhad

Guarantor

Announcement Date

25 Sep 2019

Issue Date

27 Sep 2019

Maturity Date

Perpetual

Years to Maturity / Next Call

Perpetual / -

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

5.800

Distribution Type

Fixed

Annual Distribution Rate

5.800

Distribution Frequency

Semi Annually

Seniority

Subordinated

Reference Rate

ISIN

MYBVZ1901900

CUSIP

ZR7976247

Sukuk Currency

MYR

Total Issue Size

282,000,000

Min. Investment Quantity (Nominal)

MYR 1,000

Incremental Quantity (Nominal)

MYR 1,000

Sukuk Type

High Yield Corporate

Sukuk Sector

Industrials

Sukuk Sub Sector

Construction and Engineering

Issuer Credit Rating (S&P/ Fitch/ MARC)

***/ N.R/ A+

Sukuk Credit Rating (S&P/ Fitch/ MARC)

***/ N.R/ A-

Shariah Compliant

Yes

Islamic Principle

Sukuk Al Musharakah

Exchange Listed

Sukuk Feature(s)

Deferral of Distribution

Cumulative Deferral

The Issuer may, at its sole discretion, opt to defer payment of the Expected Periodic Distribution Amount (in whole or in part) which is otherwise scheduled to be paid on a Periodic Distribution Date by giving an irrevocable Optional Deferral Notice not less than fifteen (15) days and not more than thirty (30) days prior to the relevant Periodic Distribution Date, provided that no Compulsory Periodic Distribution Payment Event (as defined below) has occurred. A "Compulsory Periodic Distribution Payment Event" shall have occurred if, during the six (6)-month period ending on the day before the relevant scheduled Periodic Distribution Date, either or both of the following have occurred:

(1) the Issuer has declared or paid any dividends, distributions or made other payments in respect of any of its Junior Obligations or Parity Obligations (except on a pro-rata basis with the Perpetual Sukuk Musharakah); or

(2) The Issuer has redeemed, reduced, cancelled, bought back or purchased any of its Junior Obligations or Parity Obligations (except on a pro-rata basis with the Perpetual Sukuk Musharakah).

Dividend Stopper

So long as any Expected Periodic Distribution Amount has been deferred and any Arrears of Deferred Periodic Distribution is outstanding:

(1) the Issuer shall not declare or pay any dividend, distribution or make other payment on any of its Junior Obligations or Parity Obligations (except on a pro-rata basis with the Perpetual Sukuk Musharakah); or

(2) the Issuer shall not redeem, reduce, cancel, buyback or purchase any of its Junior Obligations or Parity Obligations (except on a pro-rata basis with the Perpetual Sukuk Musharakah),

until all Expected Periodic Distribution Amount due and payable and any Arrears of Deferred Periodic Distribution (together with any Additional Periodic Distribution Amount) have been fully paid.

Dividend Pusher

Notwithstanding the Optional Deferral, payment of all outstanding Arrears of Deferred Periodic Distribution (together with any Additional Periodic Distribution Amount) shall be due and payable within fifteen (15) days from the date:

(1) the Issuer declared or paid any dividends, distributions, or made other payments on any of its Junior Obligations or Parity Obligations (except on a pro-rata basis with the Perpetual Sukuk Musharakah); or

(2) the Issuer redeemed, reduced, cancelled, bought back or purchased any of its Junior Obligations or its Parity Obligations (except on a pro-rata basis with the Perpetual Sukuk Musharakah).

Issuer Call

The Issuer may, at its sole discretion, redeem at par (in whole, but not in part) the relevant Perpetual Sukuk Musharakah at the relevant Exercise Price (as defined in the section entitled Other terms and conditions - Exercise Price) on any Call Date (defined herein). The Issuer shall give not less than thirty (30) days and not more than sixty (60) days prior written notice (which notice shall be irrevocable) to the Facility Agent and the Sukuk Trustee for the Optional Redemption.

"Call Date" means the First Call Date and each Periodic Distribution Date thereafter.

First Call Date: Sep 2024

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