PETALING JAYA: Paramount Corp Bhd
has issued its first Sustainability-Linked Sukuk Wakalah (SLS) of RM100mil in nominal value, with AmBank Islamic Bhd as the sole subscriber.
In a joint statement, the parties 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 syariah principle of Wakalah Bi-Al Istithmar (Sukuk Wakalah Programme).
AmInvestment Bank Bhd is the sole principal adviser, lead arranger, lead manager, facility agent and sustainability structuring adviser, while AmBank Islamic acted as the sole syariah adviser for the Sukuk Wakalah Programme.
Paramount deputy group chief executive officer Benjamin Teo said the issuance of the SLS is a significant milestone in the company’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.”
