KUALA LUMPUR: Sunway Bhd
’s wholly-owned subsidiary Sunway Iskandar Development Sdn Bhd (SIDSB), has completed its maiden issuance of RM230mil sustainability medium-term notes (MTN) under its MTN programme.
In a filing with Bursa Malaysia, the group said the issuance, known as Tranche 1 Series 1 Sustainability MTN, was completed on Sept 30.
“The proceeds raised from the issuance of the Tranche 1 Series 1 Sustainability MTN shall be utilised by the Issuer to part-finance/reimburse Sunway Treasury Sukuk Sdn Bhd for the land cost in relation to the Pendas Land and to part-finance/reimburse earthwork cost in relation to the development of Pendas Land,” Sunway said.
It said the utilisation of proceeds will be aligned with the Asean Green Bond Standards, Asean Social Bond Standards, and Asean Sustainability Bond Standards issued by the Asean Capital Markets Forum, in addition to the Green Bond Principles, Social Bond Principles, and Sustainability Bond Guidelines issued by the International Capital Market Association (ICMA).
The issuance will also adhere to SIDSB’s inaugural Sustainable Finance Framework established on Sept 22.
Alliance Bank Malaysia Bhd acted as the sustainability structuring advisor in developing the framework for SIDSB.
