TNB issues RM4.8 billion in sustainability sukuk
The six-tranche issuance is the second under its Islamic medium-term notes programme, which has a nominal ceiling of RM10 billion.
Tenaga Nasional Bhd (TNB) issued RM4.8 billion in sustainability sukuk wakalah on 27 October, according to a stock exchange filing submitted on its behalf by Maybank Investment Bank Bhd (Maybank IB). The financing was split into six tranches.
This was TNB’s second issuance through its Islamic medium-term notes programme. The programme allows up to RM10 billion in nominal value and uses the syariah principle of wakalah bi al-istithmar.
Maybank IB said the transaction would add RM4.8 billion to TNB’s consolidated borrowings. It also said the issuance would have no material effect on TNB’s earnings or its per-share measures of earnings and net assets.
CIMB Investment Bank Bhd and Maybank IB serve jointly as principal advisers and lead managers for the notes programme. The two investment banks were also appointed to jointly manage the RM4.8 billion sustainability sukuk wakalah issuance, according to the filing.
