Yinson is planning for the establishment of an RM1 billion Sukuk Wakalah Programme based on the Shariah principle of Wakalah Bi Al-Istithmar which is set to be used for working capital and refinancing some of its borrowings.
The first issuance will be made within 60 business days from the Lodgement Date. The Programme has been assigned rating of A+IS and A1 by Malaysian Rating Corporation Berhad and RAM Rating Services Berhad respectively.
Proceeds raised from the issuance of Sukuk Wakalah under the Sukuk Wakalah Programme will be utilised for defraying fees, costs, and expenses, working capital of YHB and/or YHB group of companies, refinancing of existing financing/borrowings of YHB and/or YHB Group; and general corporate purposes.
The Framework covers Sustainability-Linked Bond and any other debt instruments whose financial characteristics are linked to sustainability performance targets – creating a direct link between Yinson’s performance against climate-related targets and funding strategies. It is aligned with the International Capital Market Association’s SustainabilityLinked Bond Principles, has received an independent second party opinion from ISS ESG, one of the world’s leading ESG research, analysis and rating houses.
HSBC Amanah acted as the Sole Sustainability-Linked Structuring Adviser for the Framework.
