reNIKOLA unit enters subscription agreement for world's first climate sukuk

From left: HLIB Group Managing Director/CEO Lee Jim Leng, reNIKOLA Holdings Managing Director Boumhidi Adel and MAIB Senior Director/Head of Debt Markets Che Puan Datuk Seri Diraja Nur Julie Gwee Ariff at the subscription agreement signing ceremony for the world’s first climate sukuk of RM390mil by reNIKOLA Solar II

KUALA LUMPUR: reNIKOLA Holdings Sdn Bhd's wholly-owned subsidiary reNIKOLA Solar II Sdn Bhd will issue its second Asean Green SRI Sukuk after entering into a subscription agreement with Hong Leong Investment Bank Bhd (HLIB) and MIDF Amanah Investment Bank Bhd (MAIB).

In a statement, the pure-play renewable energy company said the reNIKOLA II Green Sukuk is rated AA2 with a stable outlook from RAM Rating Services Bhd and is independently verified by RAM Sustainability Sdn Bhd to have complied with the Climate Bonds Standard and Certification Scheme making it the world’s first climate Sukuk certified by Climate Bonds Initiative (CBI).