TNB Unit Issues RM1.5 Bln Sustainability Sukuk Wakalah

KUALA LUMPUR, March 12 (Bernama) -- Tenaga Nasional Bhd’s (TNB) wholly owned subsidiary TNB Power Generation Sdn Bhd (TPGSB) has issued RM1.5 billion in nominal value of sustainability sukuk wakalah pursuant to the sukuk wakalah programme.

In a Bursa Malaysia filing today, it said CIMB Investment Bank Bhd and Maybank IB are the joint lead managers/joint bookrunners for the RM1.5 billion sustainability sukuk wakalah.

“The proceeds raised from the issuance of the RM1.5 billion sustainability sukuk wakalah shall be utilised by the issuer for the eligible projects that meet the criteria as set out in the TPGSB Sustainability Sukuk Framework,” it said.

TPGSB will play an important role in supporting TNB’s sustainability aspirations and commitment in mitigating climate change by adopting greener, cleaner and more efficient power generation technology.

“This sustainability funding initiative by TPGSB demonstrate TPGSB’s commitment to support TNB’s aspiration to achieve net zero emission by 2050, a move towards decarbonisation and renewable energy,” it added. 

The RM1.5 billion sustainability sukuk wakalah is the third issuance from the sukuk wakalah programme and was issued in four tranches namely tranche 1 (RM100 million); tranche 2 (RM300 million); tranche 3 (RM500 million); and tranche 4 (RM600 million). 

The order book was oversubscribed by 5.33 times representing an order book size of RM8.0 billion against the issuance size of RM1.5 billion.

The deal achieved a strong order-book from a broad range of investors of over 51 accounts.

-- BERNAMA