YNH has successfully issued the Sukuk Wakalah in aggregate of RM323 million in nominal value from its Sukuk Wakalah Programme. The issuance of the Islamic Medium Term Notes (Sukuk Wakalah) of the amount in nominal value is pursuant to an Islamic Medium Term Notes Programme of up to RM700 million in nominal value based on the Shariak Principle of Wakalah Bi AL-Istithmar (Sukuk Wakalah Programme)
The property developer issued 2 series of which Series 1 has a nominal value of RM153 million with 3-year tenure and Series 2 has a nominal value of RM170 million with a 5-year tenure.
The Sukuk Wakalah Programme is structured based on the Shariah principle of Wakalah Bi Al-Istithmar and has been assigned a credit rating of A+ IS by Malaysian Rating Corporation Berhad.
HSBC Amanah Malaysia Berhad is the sole Principal Adviser, Lead Arranger and Shariah Adviser for the Sukuk Wakalah Programme, whereas CIMB Investment Bank Berhad and HSBC Amanah are the Joint Lead Managers for the Sukuk Wakalah Programme.