MALAYSIA: TNB Power Generation (TNBPG) has on the 2nd June 2022 issued a RM1.5 billion (US$341.18 million) sustainability Sukuk Wakalah facility, a bourse filing confirmed. TNBPG is a wholly-owned subsidiary of Tenaga Nasional. The proceeds from the issuance will be utilized for the Nenggiri Hydroelectric Power Plant Project. The issuance was oversubscribed by approximately 3.41 times.
The Sukuk comprised three tranches: an RM150 million (US$34.12 million) tranche with a tenor of 10 years priced at 4.7% per annum, a RM750 million (US$170.59 million) tranche with a tenor of 15 years priced at 5.05% per annum and a RM600 million (US$136.47 million) tranche with a tenor of 20 years priced at 5.2% per annum.