Khazanah’s Renewable Energy Unit Cenergi Issues Inaugural USD 50 Million Green Sukuk

Malaysia-based Cenergi SEA (Cenergi), which is the sustainable energy subsidiary of Khazanah Nasional, has issued its inaugural MYR 210 million (USD 50 million) Senior Islamic Medium-Term Notes, based on the Shariah principle of Wakalah Bi Al-Istithmar. The ASEAN SRI Green Senior Sukuk Wakalah (Sukuk) issuance consists of a five-year MYR 85 million (USD 20.2 million) due in 2026 with a 5.3% profit rate per year as well as a seven-year MYR 125 million (USD 29.8 million) Sukuk due in 2028 with a 5.55% profit rate per year, according to a statement issued by Cenergi on the 23rd of December 2021.

Why it Matters?

The Sukuk was issued following Cenergi’s Islamic Notes Issuance Programme of up to MYR 1.5 billion (USD 357.1 million) and is in compliance...