LBS Bina Group Berhad has successfully raised RM150 million through the third tranche of its Sustainability Sukuk Wakalah programme to finance eligible social projects under its Sustainability Financing Framework.
The property developer said the issuance forms part of its RM750 million Sukuk Wakalah Programme based on the Shariah principle of Wakalah Bi Al-Istithmar.
The latest issuance, structured as an ASEAN Social Sustainable and Responsible Investment (SRI) Sukuk Wakalah, carries a tenure of seven years, maturing on July 8, 2033, with a periodic distribution rate of 4.25% per annum.
LBS said the unsecured sukuk proceeds will be utilised in accordance with the group’s Sustainability Financing Framework and will comply with the requirements of the Securities Commission Malaysia’s Sustainable and Responsible Investment Sukuk Framework, the ASEAN Social Bond Standards issued by the ASEAN Capital Markets Forum, and the Social Bond Principles issued by the International Capital Market Association (ICMA).
HSBC Amanah Malaysia Berhad, Maybank Investment Bank Berhad and RHB Investment Bank Berhad acted as the joint lead managers for the third tranche.
