Tenaga Nasional Berhad to Raise MYR 12 Billion via Two Sukuk Wakalah Programmes

Tenaga Nasional Berhad (TNB), the largest electricity utility in Malaysia, is planning to raise up to MYR 12 billion through two Sukuk programmes, to fund investments, future capital expenditure, general corporate requirements, as well as its working capital needs. In addition, the proceeds from these Sukuk programmes are expected to be utilized towards refinancing any existing financing facilities of TNB or its subsidiaries and to defray any fees and expenses for the two Sukuk programmes, said TNB.

The Sukuk Wakalah programmes which were lodged with the Securities Commission Malaysia on the 30th of June 2020 will consist of Islamic Medium Term Notes (IMTNs) worth MYR 10 billion and the Islamic Commercial Papers (ICPs) a...