KUALA LUMPUR: Tenaga Nasional Bhd
is setting up a RM5bil Islamic medium term notes (MTN) programme with a tenure of between of one to 50 years.
It announced to Bursa Malaysia on Friday it had lodged with the Securities Commission for the proposed Sukuk programme.
“The proceeds raised from the Sukuk programme will be utilised by Tenaga to finance capital expenditure, investment, general corporate purposes, working capital requirements and/or refinance any existing financing facilities of Tenaga and/or its subsidiaries and to defray any fees and expenses of the Sukuk programme,” it said.
Tenaga also said the proceeds would be for Shariah-compliant purposes.
The Sukukprogramme has been assigned a long term final rating of AAA by RAM Rating Services Bhd.
Tenaga said the programme would provide the group with the flexibility to time its fund-raising exercises with varying nominal value and tenures for optimal asset-liability matching.
AmInvestment Bank Bhd and Maybank Investment Bank Bhd are the joint principal advisers, joint lead arrangers and joint lead managers for the Sukuk programme. AmInvestment Bank and Maybank Islamic Bhd are the joint Shariah advisers.
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