Tenaga Power Generation Sdn Bhd has issued an RM1.5 billion in nominal value Islamic medium term notes under an Islamic medium-term note programme of up to RM10 million in nominal value based on the Shariah principle of Wakalah Bi Al-Istithmar.
At the peak of the book-building exercise, the Sustainability Sukuk Wakalah was oversubscribed by approximately 3.41 times, from the issue size of RM1.5 billion, with orders received amounting to an aggregate of RM5.1 billion from over 30 accounts.
TNB will use the proceeds for the Nenggiri Hydroelectric Power Plant Project as set out in its Sustainability Sukuk Framework which has been accorded a “GOLD” rating by MARC Ratings Berhad.
As a significant and wholly-owned subsidiary of TNB, TNB Power Generation is committed in playing an important role in supporting the group’s sustainability aspirations and commitment to mitigating climate change by adopting greener, cleaner, and more efficient power generation technology.
CIMB Investment Bank Berhad and Maybank Investment Bank Berhad are the Joint Principal Advisers, Joint Lead Arrangers and the Joint Sustainability Framework Advisers for the Sukuk Wakalah Programme as well as the Joint Lead Managers for the first issuance of Sustainability Sukuk Wakalah under the Sukuk Wakalah Programme.
