Malaysia’s PNB to issue $473 million green sukuk for office tower project

10-Nov-2017 Intellasia | Reuters | 6:00 AM Print This Post

Malaysian government-linked investment firm Permodalan Nasional Bhd (PNB) is looking to raise 2 billion ringgit ($473.3 million) via a green sukuk programme to fund its 83-storey office tower project.

The 15-year tenure secured unrated green sukuk, called Merdeka Asean Green SRI Sukuk Programme, will comply with the Sustainable Responsible Investment (SRI) sukuk requirements and adopt the newly launched Asean Green Bond Standards, PNB said in a statement.

The office tower located within the city is targeted for completion in 2020.

MIDF Amanah Investment Bank Bhd is the principal adviser and lead arranger for the sukuk issuance.

The financing facility is the third, and largest yet, green sukuk to be issued in Malaysia. Edra Power Holdings Sdn Bhd’s Tadau Energy issued 250 million ringgit in July while Quantum Solar Park Malaysia Sdn Bhd issued a 1 billion ringgit green in October.

The Asean Capital Markets Forum, made of capital market regulators from the 10 Asean countries, launched the Asean Green Bond Standards on Wednesday. The standards are formed based on the International Capital Market Association’s Green Bond Principles.

($1 = 4.2260 ringgit)

http://www.kitco.com/news/2017-11-08/Malaysia-apos-s-PNB-to-issue-473 million-green-sukuk-for-office-tower-project.html

 


Category: Malaysia

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