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Thursday, July 18, 2024

Launch Partners

Global Vision Logistics lodges SRI Sukuk program worth up to RM1.5 billion (US$334.94 million); to issue first tranche in Q2 2023

MALAYSIA: Global Vision Logistics (GVL) has lodged its ASEAN Green SRI Sukuk Murabahah program worth up to RM1.5 billion (US$334.94 million) with the Securities Commission Malaysia’s Lodge and Launch Framework. GVL will issue the first tranche of the Sukuk worth RM620 million (US$138.44 million) in the second quarter of this year, a press release confirmed.

United Overseas Bank (Malaysia) was mandated as the principal advisor for the transaction.

Separately, MARC Ratings has assigned a ‘Bronze’ impact assessment to GVL’s Sustainability Financing Framework, which is aligned with the core components of the Green Bond Principles of the International Capital Markets Association, the ASEAN Green Bond Standards of the ASEAN Capital Markets Forum, the Green Loan Principles of the Loan Market Association and the SC’s SRI Sukuk Framework.

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