TNB'S power generation unit issues RM2bil sustainability sukuk wakalah

KUALA LUMPUR: Tenaga Nasional Bhd's (TNB) wholly owned subsidiary TNB Power Generation Sdn Bhd (TPGSB) has today issued RM2.0 billion in nominal value of sustainability sukuk wakalah, pursuant to the sukuk wakalah programme.

In a filing with Bursa Malaysia today, it said CIMB Investment Bank Bhd and Maybank IB are the joint lead managers/joint bookrunners for the RM2.0 billion sustainability sukuk wakalah.

The RM2.0 billion sustainability sukuk wakalah is the second issuance from the sukuk wakalah programme and was issued in four tranches.

It comprises RM200 million with seven years tenure (4.30 per cent per annum), RM600 million of 10 years tenure (4.58 per cent p.a.), RM300 million of 15 years (4.67 per cent p.a.) and RM900 million with 20 years tenure (4.84 per cent p.a.).

The order book was oversubscribed by 2.02 times representing an order book size of RM4.035 billion against the issuance size of RM2.0 billion, it said.

"This deal achieved a strong order book from a broad range of investors of over 44 accounts, allowing the initial issue size of RM1.5 billion to be upsized to RM2.0 billion,” said TNB.

The proceeds raised from the issuance of the RM2.0 billion sustainability sukuk wakalah shall be utilised by the issuer for the eligible projects that meet the criteria as set out in the TPGSB Sustainability Sukuk Framework. - Bernama

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