TNB unit to issue RM2b sukuk

kapar power station

KUALA LUMPUR: Tenaga Nasional Bhd’s (TNB) 60%-owned subsidiary, Kapar Energy Ventures Sdn Bhd, has proposed to issue RM2bil of sukuk in nominal value tomorrow.

In a filing with Bursa Malaysia, TNB said the sukuk would be issued in one lump sum and would consist of 13 series, with tenors ranging from one year to 13 years from the date of issuance. The coupon rate is from 3.82% to 4.95%. It added that the sukuk had been assigned with a final rating of AA+IS by Malaysian Rating Corp Bhd (MARC).