Pengerang LNG (Two) Issues MYR 1.7 Billion Sukuk Murabahah

Pengerang LNG (Two) [PLNG2] has successfully issued a 20-year multi-tranche MYR 1.7 billion Sukuk Murabahah facility under its Islamic Medium Term Notes programme. The issuance was oversubscribed by over three times, according to a statement by Petronas Gas. PLNG2 is a 65%-owned subsidiary of Petronas Gas Bhd (PGB).

Why it matters?

The funds raised will go towards the repayment of Shariah-compliant, outstanding USD shareholders’ loans in full. Kamal Bahrin, Chairman of PLNG2, stated that the issuance is in line with PLNG2’s on-going efforts towards efficient capital management across the PGB Group. The Sukuk issuance will not have an impact on the issued and paid-up capital of PGB, and/or its substantial shareholders’ shareholdings i...