TNB issues RM2b Sukuk Wakalah

Tenaga Nasional Bhd (TNB) has issued a RM2 billion Sukuk Wakalah pursuant to its Islamic medium-term note programme of RM5 billion in nominal value based on the Shariah principle of Wakalah.

On behalf of TNB, Maybank Investment Bank (IB) Bhd said the Sukuk Wakalah had been issued yesterday.

“Upon issuance of the Sukuk Wakalah, TNB’s consolidated borrowings will increase by RM2 billion.

“Based on TNB’s consolidated statement of financial position as at May 31, 2017, its consolidated gearing would then increase to 0.70 times from 0.66 times,” it said in a filing to Bursa Malaysia.

Maybank IB and AmInvestment Bank Bhd are the joint principal advisors, joint lead arrangers and joint lead managers for the RM5 billion sukuk programme. — Bernama