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TNB issues Sukuk Wakalah worth RM3 bln

25/11/2021 08:45 PM

KUALA LUMPUR, Nov 25 -- Tenaga Nasional Bhd (TNB) today issued RM3 billion in nominal value Islamic Medium-Term Notes (IMTN; Sukuk Wakalah) under an IMTN programme of up to RM10 billion.

The Sukuk Wakalah, the second issuance in its IMTN programme, was issued in four tranches.

"At the peak of the book-building exercise, the Sukuk Wakalah was oversubscribed by approximately three times from the initial issue size of RM2 billion, with orders received amounting to an aggregate of RM5.8 billion from over 40 accounts," it said in a filing to Bursa Malaysia today.

Hence, the transaction was subsequently upsized from the initial issue size of RM2 billion to RM3 billion, upon book closing.

Upon the issuance of the RM3 billion Sukuk Wakalah, TNB’s consolidated borrowings will also increase by RM3 billion.

"Based on TNB’s consolidated statement of financial position as at June 30, 2021, the company's consolidated gearing would then increase to 0.91 times from 0.86 times," it noted.

Affin Hwang Investment Bank Bhd, AmInvestment Bank Bhd and CIMB Investment Bank Bhd are the Joint Lead Managers/Joint Bookrunners for the RM3 billion Sukuk Wakalah.






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