KUALA LUMPUR (June 30): Tenaga Nasional Bhd (TNB) has issued a RM4 billion in nominal value Islamic Medium-Term Notes (IMTN), also known as Sukuk Wakalah, under an IMTN programme of up to RM10 billion.

In a filing with Bursa Malaysia on Thursday (June 30), it said the Sukuk Wakalah, the third issuance in its IMTN programme, was issued in five tranches.

It said the issuance size for tranche 1 was RM1.12 billion for seven years with a distribution rate of 4.73% per annum (pa), tranche 2 has the issuance size of RM300 million for 10 years with a distribution rate of 4.84% pa and the issuance size for tranche 3 was RM880 million for 15 years with a distribution rate of 5.23% p a.

The utility giant said tranche 4 has the issuance size of RM500 million for 20 years with a distribution rate of 5.36% p a and the issuance size for tranche 5 was RM1.2 billion for 25 years with a distribution rate of 5.57% p a.

“Upon the issuance of the RM4 billion Sukuk Wakalah, TNB’s consolidated borrowings will increase by RM4 billion.

“The RM4 billion Sukuk Wakalah issuance will not have material impact on the earnings, earnings per share (EPS) and net assets per share of TNB for the current financial year,” it said.

CIMB Investment Bank Bhd and Maybank Investment Bank Bhd were the joint principal advisers, joint lead arrangers and joint lead managers/joint bookrunners for the RM4 billion Sukuk Wakalah.