Mah Sing Group (KLSE:MAHSING) completed the issuance of 250 million ringgit in secured, unrated Islamic medium-term bonds.

The bonds were issued under the company's 2 billion ringgit debt program, according to a Monday Malaysian bourse filing.

The Islamic debt, dubbed Sukuk Murabahah, has a tenure of five years and carries a fixed annual profit rate of 4.5%.

Proceeds will be used for Shariah-compliant purposes including land banking, capital expenditures, investments, and working capital, the property developer said.