PETALING JAYA: PNB Merdeka Ventures Sdn Bhd (PNBMV), a wholly-owned subsidiary of Permodalan Nasional Bhd (PNB), has successfully completed the inaugural issuance of Sustainability Merdeka Sukuk Wakalah under its Merdeka Sukuk Wakalah Programme of up to RM6bil in nominal value - as part of its funding diversification strategy.
In a statement, PNBMV said the transaction represents to-date the largest corporate Sustainability Sukuk issuance in Asean; the largest sustainability sukuk issuance from the commercial real estate sector in Asean; the largest ringgit denominated sukuk issuance; and the largest single ringgit corporate AAA-rated sustainability sukuk issuance.
“The transaction was marketed via an accelerated bookbuilding exercise on 16 October 2025 comprising tenures of five, seven, 10 and 15 years with a base issue size of RM5.5bil.
“A 20-year, RM500mil tranche was separately offered on a private placement basis. At its peak, the order book achieved a bid-to-cover ratio of 1.17 times which allowed PNBMV to upsize the offering to RM6bil.”
