KUALA LUMPUR: Petronas Gas Bhd
’s (PetGas) 65%-owned subsidiary Pengerang LNG (Two) Sdn Bhd (PLNG2) has issued RM800mil Islamic medium term notes (sukuk murabahah).
The gas infrastructure and utilities company said the sukuk murabahah was issued in 11 tranches with tenors ranging from five to 15 years.
“Upon the issuance of the RM800mil sukuk murabahah, PLNG2 will utilise the RM800mil proceeds for payment towards the prepayment of the jetty usage agreement (JUA); and/or towards payment obligations under the JUA; and/or working capital, capital expenditure and general corporate expenditure purposes and to fund the finance service reserve account,” it said in a filing with Bursa Malaysia.
In December last year, PLNG2 inked an agreement with Pengerang Terminals (Two) Sdn Bhd to undertake the prepayment transaction which entails the early settlement of the agreed portion. — Bernama
