KUALA LUMPUR: Tenaga Nasional Bhd
(TNB) has lodged an Islamic medium-term notes (sukuk wakalah) programme of up to RM10bil in nominal value with the Securities Commission (SC).
The electricity utility company said the programme will have a tenure of 50 years from the date of the first issuance, with individual sukuk issued under the programme having a tenure of one year to 50 years.
“The programme provides TNB with the flexibility to issue sukuk from time to time, including those that comply with sustainability and sustainability-linked guidelines or frameworks.
“The sukuk wakalah programme has been assigned a final rating of AAA by RAM Rating Services Bhd,” it said in a filing with Bursa Malaysia yesterday.
TNB said proceeds from the issuance of the sukuk will be utilised to finance syariah-compliant capital expenditure, investments, general corporate purposes, and working capital requirements, as well as to refinance existing conventional borrowings and Islamic financing facilities. — Bernama
