Malakoff Corp Bhd Tanjung Bin Power Plant (coal-fired) in Johor
KUALA LUMPUR: Malakoff Corp Bhd’s unit Tanjung Bin Energy Sdn Bhd has issued a RM800mil sukuk wakalah.
In a filing with Bursa Malaysia on Wednesday, the independent power producer said proceeds from the sukuk wakalah would be utilised for the redemption of the outstanding junior term-loan facility in an aggregate amount of RM1.29bil pursuant to a turnkey contract.
The sukuk wakalah is expected to have a positive impact on the net assets and gearing of Malakoff Corp.
CIMB Investment Bank Bhd and Maybank Investment Bank Bhd (Maybank IB) are the joint principal advisers and joint lead arrangers, while CIMB, Maybank IB and RHB Investment Bank Bhd are the joint lead managers for the sukuk wakalah. - Bernama
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