SFF-i & RC-i Facility

Frequently Asked Questions

SFF-i & RC-i Facility

1. Describe the facility to be provided under the SFF-i Facility and RC-i Facility

The SFF-i Facility and RC-i Facility is a Syndicated Revolving Credit-i Facility of up to RM2.0 billion (MRT Project), RM2.0 billion (Pan Borneo Highway Sarawak (Phase 1) Project) and RM1.0 billion (LRT 3 Project), irrevocably and unconditionally guaranteed by the Government.

2. Who is the customer to the SFF-i Facility and RC-i Facility?

3. What is the Tenure of the SFF-i Facility and RC-i Facility?

4. Are the SFF-i Facility and RC-i Facility Guaranteed?

5. Describe the guarantee provided.

6. What is the “Guaranteed Amount” referred to above?

7. Is this an Islamic transaction?

8. What is the underlying Shariah Principles used under the SFF-i Facility and RC-i Facility?

9. Can the transaction structure be changed to a conventional structure?

10. What would the proceeds of the Proposed SFF-i Facility and RC-i Facility be utilised for?

The proceeds of the respective SFF-i Facility / RC-i Facility will be utilised for the following:

MRT Project (RM2.0 billion SFF-i Facility) - to finance the following capital expenditure and operating expenses in relation to the development of the MRT Kajang Line and Putrajaya Line, including but not limited to the following:

Progressive payments to contractors;
Purchase of equipment;
Settlement of advances from any relevant entities;
Pre-construction costs including but not limited to financing costs, financial advisor’s fee, advisory costs and fees for solicitors, project delivery partners, and independent consultant engineers;
All operating expenses including but not limited to all pre-operating expenses, costs relating to the tender process, administrative, financial, legal and staff costs incurred by DanaInfra and/or MRT Corp in relation to the MRT Project; and
To refinance any bridging facility or other credit lines undertaken by DanaInfra in relation to the MRT Project.

Pan Borneo Highway Sarawak (Phase 1) Project (RM2.0 billion RC-i Facility) - to finance expenditures and/or payments in relation to the Pan Borneo Highway Sarawak (Phase 1) Project including but not limited to the following:

Construction costs and progressive payments to contractors;
Operating and transactional costs and expenses;
Financing costs including but not limited to all profit, fees, costs and expenses in connection with the RC-i Facility, the ICP/IMTN Programme, any bridging facility or other banking/financing facilities and/or credit lines; and
To refinance any bridging facility or other banking/financing facilities and/or credit lines undertaken by DanaInfra in relation to the Pan Borneo Highway Sarawak (Phase 1) Project and/or payment of any principal sum falling due for payment thereunder or in connection with the ICP/IMTN Programme.

LRT 3 Project (RM1.0 billion RC-i Facility) - to finance expenditures and/or payments in relation to the LRT 3 Project including but not limited to the following:

Construction costs and progressive payments to contractors;
Operating and transactional costs and expenses including but not limited to consultant fees;
Financing costs including but not limited to all profits, fees, costs and expenses in connection with the RC-i Facility, the ICP/IMTN Programme, any bridging facility or other banking/financing facilities and/or credit lines undertaken by DanaInfra in relation to the LRT 3 Project; and
To refinance any bridging facility (including any outstanding principal portion under the RC-i Facility) or other banking/financing facilities and/or credit lines undertaken by DanaInfra in relation to the LRT 3 Project and/or payment of any principal sum falling due for payment thereunder or in connection with the ICP/IMTN Programme.

11. Who are the Facility Agent and Shariah Adviser for the SFF-i and RC-i Facility?

12. What is the Profit Period/Payment?

13. Is there any special conditions attached to DanaInfra?