MYEG has proposed to establish a Sukuk Wakalah Programme with an aggregate outstanding nominal value not exceeding RM1 billion at any point in time.
The Sukuk Wakalah Programme has been assigned a preliminary rating of AA-IS with a Stable outlook by MARC Ratings Berhad.
The programme also provides flexibility for the group to issue Sukuk Wakalah in compliance with amongst others, Green/Social/Sustainability/Sustainable and Responsible Investment (SRI) Sukuk guidelines, frameworks, standards or principles issued by the SC, the ASEAN Capital Markets Forum and the International Capital Market Association. MYEG’s Sustainability Financing Framework has been assigned a “Gold” Impact Assessment by MARC Ratings.
The proceeds raised from the issuance of the Sukuk Wakalah under the Sukuk Wakalah Programme are to be utilised for Shariah-compliant working capital requirements, capital expenditures, investments, financing of business expansions and general corporate purposes of the Group.
Including refinancing any of its existing conventional borrowings or both existing or future Islamic financing facilities (including Sukuk) of MYEG and its subsidiaries. Provision of Shariah-compliant inter-company financing to the subsidiaries within the Group, capital for liquidity management required for the Group’s existing or future Shariah-compliant businesses/projects; and to defray fees, costs and expenses relating to the establishment and/or issuance of the Sukuk Wakalah Programme.
CIMB Investment Bank Berhad and HSBC Amanah Malaysia Berhad are appointed as the Joint Principal Advisers, Joint Lead Arrangers, Joint Lead Managers, Joint Bookrunners and Joint Sustainability Structuring Agents for the Sukuk Wakalah Programme. Maybank Investment Bank Berhad and AmInvestment Bank Berhad are also appointed as the Joint Lead Managers and Joint Bookrunners for the Sukuk Wakalah Programme.
