MALAYSIA: MY E.G. Services (MYEG) has proposed a perpetual Sukuk Wakalah program of up to RM1 billion (US$212 million), a bourse filing confirmed. The program provides MYEG with the flexibility to issue Sukuk in compliance with, among others, green, social, sustainability and SRI guidelines. Proceeds from the issuance will fund working capital requirements and general corporate purposes of the group, among others.
CIMB Investment Bank and HSBC Amanah Malaysia have been appointed as joint principal advisors, joint lead arrangers, joint lead managers, joint bookrunners and joint sustainability structuring agents for the proposed program. Maybank Investment Bank and AmInvestment Bank have also been appointed as joint lead managers and joint bookrunners for the program.
The program has been assigned an ‘AA-IS’ preliminary rating with a stable outlook by MARC Ratings while MYEG’s Sustainability Financing Framework has been assigned a ‘Gold’ impact assessment by the rating agency.