Sustainability sukuk by Samaiden

PETALING JAYA: Samaiden Group Bhd has established multi-currency sustainability sukuk Wakalah programmes of RM1.5bil in total as part of its strategic financial initiative to support growth and sustainability.

Samaiden said in a statement it has established a RM1bil Islamic medium-term notes programme and a RM500mil Islamic commercial papers programme, both under the syariah principle of Wakalah bi al-Istithmar.

The renewable energy solutions provider said the programmes will allow the issuance of both rated and unrated Islamic notes and papers, with options for them to be secured or unsecured, with or without a financial guarantor.

“These financial instruments will support the group’s capital expenditures, working capital, general corporate purposes, project investments, asset acquisitions and refinancing of existing and future syariah-compliant financings, and defraying all fees and expenses incidental to the programmes,” it said.