TNB’s subsidiary lodges Sukuk Wakalah program with SC

KUALA LUMPUR: Tenaga Nasional Bhd‘s (TNB) wholly-owned subsidiary, TNB Energy Technology Sdn Bhd (TPGSB) had lodged a Sukuk Wakalah Program of as much as RM10 billion with the Securities Fee Malaysia.

In a submitting with Bursa Malaysia right now, TNB mentioned the Sukuk Wakalah Program would supply TPGSB with the flexibleness to time its fund-raising workout routines with various nominal worth and tenures for optimum asset-liability matching.

“The Sukuk Wakalah Program shall have a tenure of 30 years from the date of the primary problem of Sukuk Wakalah below the Sukuk Wakalah Program which shall be made inside 90 enterprise days from the date of the lodgment with the SC (or such different prolonged dates) accredited by the SC).

“The tenure of every Sukuk Wakalah to be issued below the Sukuk Wakalah Program shall be between one yr and as much as 30 years, offered that no Sukuk Wakalah shall mature after the expiry of the Sukuk Wakalah Program,” it mentioned.

TNB added that this system can even allow TPGSB to entry a diversified pool of traders in native capital markets and permit TPGSB to fund eligible initiatives that meet the factors set out within the TPGSB Sustainability Sukuk Framework, in help of TNB’s aspiration towards net-zero emissions by 2050.

CIMB Funding Financial institution Bhd and Maybank Funding Financial institution Bhd are the joint principal advisers, joint lead arrangers and joint sustainability framework advisers for the Sukuk Wakalah Program, in addition to the joint lead managers for the primary issuance of Sukuk Wakalah to be made below the Sukuk Wakalah Program.

In the meantime, CIMB Islamic Financial institution Bhd and Maybank Islamic Bhd are the joint Shariah advisers for the Sukuk Wakalah Program. – Bernama


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