KUALA LUMPUR: Sunway City Sdn Bhd’s 100% owned subsidiary, Sunway Iskandar Development Sdn Bhd (SIDSB), has made its first issuance of Tranche 1 Series 1 Sustainability medium-term notes (MTN) of RM230mil in nominal value under its MTN Programme.
Sunway City is a wholly owned subsidiary of Sunway Bhd
. In a filing with Bursa Malaysia, Sunway said SIDSB will utilise proceeds raised from the issuance to part-finance/reimburse Sunway Treasury Sukuk Sdn Bhd for the land and the earthwork cost related to the development of the Pendas land.
Its utilisation will comply with the guiding principles of the Asean Green Bond Standards, the Asean Social Bond Standards and/or the Asean Sustainability Bond Standards, the Green Bond Principles issued by the International Capital Market Association.
Alliance Bank Malaysia Bhd is the sustainability structuring adviser who developed the framework for SIDSB. — Bernama
