PETALING JAYA: Ideal Water Resources Sdn Bhd (IWR), a wholly-owned subsidiary of Puncak Niaga Holdings Bhd
has completed the issuance of the second tranche sukuk murabahah of RM255mil in nominal value under the Sukuk Murabahah Programme.
The second tranche sukuk murabahah, secured by cashflows arising from the Z1P 2 concession, has been assigned a final AA2/stable credit rating by RAM Rating Services Bhd and carries a tenure of up to nine years from the issue date with profit rates ranging from 4.10% to 4.92% per annum.
The proceeds raised from it will be utilised for a number of purposes including to partly redeem the first tranche sukuk murabahah issued by IWR, to advance to sister company Pujian Bayu Sdn Bhd for the partial early redemption of the medium term notes issued by Pujian Bayu.
