KUALA LUMPUR: LBS Bina Group Bhd
has successfully issued the second tranche of Asean Social SRI Sukuk Wakalah, amounting to RM400mil in nominal value under its existing RM750mil Sukuk Wakalah Programme, which is rated AA-IS with a stable outlook by MARC Ratings Bhd.
The developer said the unsecured Second Tranche was issued with a periodic distribution rate of 4.81% per annum. It has a tenure of 7 years and will mature on January 23, 2023.
The issuance garnered strong interest from investors, achieving an oversubscription rate of 5.27 times. The final order book was approximately RM2.1bil.
LBS said the proceeds from the issuance will be allocated in accordance with the group’s sustainability financing framework, channelling funds toward projects focused on affordable housing, community development, and sustainability. These initiatives align with LBS’ mission to drive positive societal impact and create lasting value for stakeholders.
“The issuance of this second tranche marks another significant milestone in our journey to integrate sustainability into our business operations. The proceeds will enable us to enhance our portfolio of affordable housing projects, contributing to community development and fostering positive social outcomes. This achievement reflects our continuous commitment to balancing sustainable business growth with the well-being of the communities we serve,” group executive chairman Tan Sri Lim Hock San said.
The issuance was managed by HSBC Amanah Malaysia Bhd, Maybank Investment Bank Bhd, and RHB Investment Bank Bhd, which acted as the joint lead managers for the second tranche.
