LBS BINA GROUP SUCCESSFULLY CONCLUDES SECOND ASEAN SOCIAL SRI SUKUK WAKALAH ISSUANCE

“The proceeds will enable us to enhance our portfolio of affordable housing projects, contributing to community development and fostering positive social outcomes." LBS group executive chairman Tan Sri Ir Dr Lim Hock San

LBS Bina Group Bhd, a leading property developer guided by people-first values, has announced the successful issuance of its second tranche of Asean Social SRI Sukuk Wakalah, amounting to RM400mil in nominal value (second tranche) under LBS’ existing RM750mil Sukuk Wakalah Programme, which is rated AA-IS with a Stable outlook by MARC Ratings Bhd.

The completion of the second tranche continues to demonstrate the capital markets’ positive reception towards LBS’ commitment to sustainable growth and development.

The unsecured second tranche was issued with a periodic distribution rate of 4.81% per annum and carries a tenure of seven years, maturing on Jan 23, 2032.

The issuance garnered strong interest from investors, achieving an oversubscription rate of 5.27 times, with a final order book of approximately RM2.1bil.

The robust demand, driven primarily by institutional investors, underscores the market’s confidence in LBS’ track record, strategic direction and sound governance practices.

Proceeds from the issuance will be allocated in accordance with the group’s Sustainability Financing Framework, channeling 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.

LBS group executive chairman Tan Sri Ir Dr Lim Hock San commented, “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.”

He added that the issuance further reaffirms their dedication in addressing the evolving needs of the communities that they serve.

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.