KUALA LUMPUR: Paramount Corp Bhd has issued its first sustainability-linked sukuk wakalah (SLS) of RM100mil in nominal value today with AmBank Islamic Bhd as the sole subscriber.
In a statement, the group said the SLS was issued out of Paramount’s unrated Islamic medium-term notes programme of up to RM1bil in nominal value based on the Shariah principle of Wakalah Bi-Al Istithmar.
AmInvestment Bank is the sole principal adviser, lead arranger, lead manager, facility agent, and sustainability structuring adviser, while AmBank Islamic acted as the sole shariah adviser for the sukuk wakalah programme.
Paramount’s designated sustainability officer, deputy group CEO Benjamin Teo said the issuance of the SLS is a significant milestone in Paramount’s journey towards fulfilling its sustainable development agenda as well as a commitment to a future where business intertwines seamlessly with environmental stewardship and social responsibility
"“By linking this Sukuk Wakalah to specific sustainability targets, we are taking a bold step forward by ensuring that our financial activities support our business goals while contributing positively to environmental and social objectives. Thus, we hold ourselves accountable to higher standards of performance and transparency," he said.
