reNIKOLA Holdings Sdn Bhd via its wholly-owned subsidiary, reNIKOLA Solar II Sdn Bhd has issued its RM390.0 million ASEAN Green SRI Sukuk with Hong Leong Investment Bank Berhad and MIDF Amanah Investment Bank Berhad as Joint Principal Advisers, Joint Lead Arrangers and Joint Lead Managers.
The reNIKOLA II Green Sukuk is rated AA2 with a stable outlook by RAM Rating Services Berhad and is independently verified by RAM Sustainability Sdn Bhd to have complied with the Climate Bonds Standard and Certification Scheme making it the world’s first climate Sukuk certified by Climate Bonds Initiative (“CBI”). The proceeds from the issuance will be utilised mainly to refinance the development costs of two 30MW solar plants in Kuala Muda, Kedah, and Machang, Kelantan.
reNIKOLA is 55% owned by reNIKOLA Sdn Bhd and 45% by B.Grimm Power (Malaysia) Sdn Bhd, a wholly-owned subsidiary of B.Grimm Power Public Company Limited. B.Grimm Power, a public listed on the Stock-Exchange of Thailand has active operations in 9 countries with 56 projects in operation and on route to 10,000 MW installed capacity by 2030.
“The reNIKOLA II Green Sukuk has garnered enthusiastic interest from a diverse range of fixed-income investors, resulting in an oversubscription of nearly three times the issue size.” From Thailand, reNIKOLA’s strategic investor, B.Grimm Power’s President, Dato’ Dr. Harald Link, shared his optimism by expressing that this Sukuk issuance shows B.Grimm group’s
commitment to be a leader in the renewable energy sector and within the domain of green sustainable financing. “This achievement represents reNIKOLA’s second sukuk issuance in just three years. Dato’ Dr. Harald Link further emphasized, “Being the first Sukuk in Malaysia certified by CBI has helped to expand and diversify our investor base, leading to the Sukuk being around three times oversubscribed.”
