Khazanah owned Cenergi SEA Berhad has successfully issued its inaugural RM210 million Senior IslamicMedium-Term Notes based on the Shariah principle of Wakalah Bi Al-Istithmar in compliance with the SC SRI Sukuk framework, ASEAN Green Bonds Standards issued by the ASEAN Capital Markets Forum and Green Bond Principles issued by the International Capital Market Association.
The ASEAN SRI Green Senior Sukuk Wakalah issuance comprises a five-year RM85million sukuk due in 2026 with a profit rate of 5.30% p.a. and a seven-year RM125million sukuk due in 2028 with a profit rate of 5.55% p.a. respectively. The ASEAN SRI Green Senior Sukuk Wakalah is issued pursuant to Cenergi’s Islamic Notes Issuance Programme of up to an aggregate amount of RM1.5 billion in nominal value based on the Shariah principle of Wakalah Bi Al-Istithmar (“Sukuk Programme”).
The Sukuk Programme has been assigned a final rating of A1/Stable for the senior Sukuk Wakalah and A3/Stable for the perpetual Sukuk Wakalah by RAM Rating Services Berhad. Group Chief Executive Officer Hairol Azizi Tajudin said the issuance of the ASEAN SRI Green Senior Sukuk Wakalah provides a wider opportunity for Cenergi to effectively manage and optimise its cash flow, grow its business and support the government’s aspiration in the enhancement of renewable energy (RE) sector.
Cenergi is actively expanding its RE business, and plans to utilise the proceeds from the Sukuk issuance to refinance its existing loans as well as to fund its upcoming RE projects. CFO Vinie Chong Pui Ling said “We are proud to have successfully issued Malaysia’s first RE Corporate Green Sukuk, as Cenergi proactively optimises its capital structure in line with its vision, mission, and strategies in the sustainable and renewable energy space”.
