LBSMK 6.800% Perpetual Corp (MYR)

Sukuk Factsheet

Sukuk

Matured/ Called

LBS Bina Group Berhad

Indicative

Full Lot

Bid Price

99.800

Change in Bid Price

0.002

Bid Yield (%)

Change in Bid Yield

Ask Price

100.350

Change in Ask Price

0.002

Ask Yield (%)

Change in Ask Yield

Indicative price as of 28 Mar 2025, 12:00am

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Sukuk Information

LBS Bina Group Berhad is a management and investment holding company. The Company, through its subsidiaries, operates property development and investment. LBS also provides project management and contractor services for property development, turf and landscaping contracting, insurance services, sells motor vehicles, and trades building materials.

Sukuk Issuer

LBS Bina Group Berhad

Guarantor

Announcement Date

26 Mar 2020

Issue Date

30 Mar 2020

Maturity Date

Perpetual

Years to Maturity / Next Call

Perpetual / 0.482

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

6.800

Distribution Type

Variable

Annual Distribution Rate

6.800

Distribution Frequency

Semi Annually

Seniority

First Lien

Reference Rate

Reset Date: 28 Mar 2025 and every 5 years thereafter
Reset Rate: Prevailing 5 year MGS Rate + Initial Spread (3.851%)

ISIN

MYBVZ2000611

CUSIP

BH3915197

Sukuk Currency

MYR

Total Issue Size

130,000,000

Min. Investment Quantity (Nominal)

MYR 1,000

Incremental Quantity (Nominal)

MYR 1,000

Sukuk Type

High Yield Corporate

Sukuk Sector

Financials

Sukuk Sub Sector

Real Estate Management and Development

Issuer Credit Rating (S&P/ Fitch)

***/ N.R

Sukuk Credit Rating (S&P/ Fitch)

***/ N.R

Shariah Compliant

Yes

Islamic Principle

Sukuk Al Musharakah

Exchange Listed

Sukuk Feature(s)

Deferral of Distribution

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 prorata basis with the Perpetual Sukuk Musharakah). The Issuer may, at its sole discretion, elect to further defer any outstanding Arrears of Deferred Periodic Distribution by complying with the foregoing notice requirement. The Issuer is not subject to any limit as to the number of times the Expected Periodic Distribution Amount and the Arrears of Deferred Periodic Distribution can be deferred except that the provisions of the Dividend and Capital Stopper (as defined in the section entitled "Other terms and conditions - Dividend and Capital Stopper") shall be complied with until all outstanding Arrears of Deferred Periodic Distribution have been paid in full.

Dividend and Capital 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 dividends, distributions or make any 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 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 and Capital 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 make 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 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: 28 Mar 2025

Distribution Rate Step Up

Step up: 2% on first call date and subsequently 1% p.a. up to a maximum of 15% p.a. coupon

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