MALAYSIA: Cenviro, the flagship company of Khazanah Nasional’s investment in sustainable development, has issued a sustainability Sukuk paper worth RM54.6 million (US$13.01 million) structured under the Wakalah Bi Istithmar concept, Bernama reported.
The Sukuk facility, issued under the company’s RM500 million (US$119.16 million) Islamic program, comprised two tranches — Tranche 1 with an eight-year tenor and Tranche 2 with a 12-year tenor. RHB Investment Bank has been appointed as the lead advisor, lead arranger, lead manager and facility agent for the issuance.
Proceeds from the issuance will be used for the capital expenditure requirements of Kualiti Alam Waste Management Centre undertaken by Kualiti Alam and for the development of the new Satellite Waste Management Centre project in Pengerang, Johor undertaken by Cenviro Johor.