PBA Holdings Unit Issues RM300 Mln Inaugural Sukuk Wakalah
KUALA LUMPUR, Sept 4 (Bernama) -- PBA Holdings Bhd's unit Perbadanan Bekalan Air Pulau Pinang Sdn Bhd (PBAPP) has successfully issued its inaugural sustainability sukuk wakalah in aggregate of RM300 million in nominal value under its sukuk wakalah programme.
It said in a filing with Bursa Malaysia today that the issuance compromising two tranches, Tranche 1 and 2 of RM150 million each.
It said Tranche 1 has periodic distribution rate of 3.57 per cent per annum payable semi-annually, with a tenure of 10 years until Sept 4, 2035, while Tranche 2 has a periodic distribution rate of 3.75 per cent per annum, with a tenure of 15 years until Sept 4, 2040.
"The proceeds from the sustainability sukuk wakalah issuance will be utilised to finance projects under the Water Contingency Plan 2030 and other capital and operating expenditures.
"These projects are categorised as eligible green projects under sustainable water and wastewater management and eligible social projects under affordable basic infrastructure as outlined in the PBAPP's framework," it said.
The sukuk wakalah programme has been accorded a credit rating of AAA by RAM Rating Services Bhd.
-- BERNAMA