Malaysia’s Tenaga Nasional Issues USD 119.3 Million Islamic Commercial Papers
January 31, 2022 | Updated at January 31, 2022
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Email Malaysia’s largest electricity company Tenaga Nasional Berhad (TNB) has announced the issuance of MYR 500 million (USD 119.3 million) Islamic Commercial Papers (ICPs) (Murabahah and Wakalah) on the 26th of January 2022, according to updates on the Bond and Sukuk Information Exchange's (BIX Malaysia) website. This issuance is part of the TNB MYR 2 billion (USD 477.2 million) ICP Sukuk Wakalah Programme.
Why it Matters?
TNB is set on expanding its Renewable Energy (RE) arena to achieve its target of 8,300 megawatts (MW) of a RE capacity mix by 2025, to keep up with the global trend of environmental sustainability. Through the Sukuk programme, TNB and its subsidiaries will be able to gain the flexibility to time its fund-raising exercises of differen...
