TNB issues RM3b worth of Islamic bonds

TheEdge Thu, Nov 25, 2021 11:33am - 5 days View Original


KUALA LUMPUR (Nov 25): Utility giant Tenaga Nasional Bhd (TNB) has issued a combined RM3 billion worth of Islamic bonds or sukuk across four tranches of Islamic Medium Term Notes (IMTNs) on Thursday (Nov 25). 

TNB’s four tranches of IMTNs, which have tenures of seven to 20 years, will pay annual profit rates of between 3.92% and 4.67%, according to the Bond and Sukuk Information Exchange (BIX) website. 

The proposed four tranches of IMTNs comprise the seven-year RM300 million IMTN which pays an annual profit rate of 3.92%, the 10-year RM300 million IMTN which offers 4.08% annual profit rate, followed by the 15-year RM1.2 billion IMTN (4.47% annual profit rate) and 20-year RM1.2 billion IMTN (4.67% annual profit rate). 

According to BIX, the seven-year RM300 million IMTN will mature on Nov 24, 2028, and the 10-year RM300 million IMTN will mature on Nov 25, 2031. 

The 15-year RM1.2 billion IMTN, meanwhile, will mature on Nov 25, 2036, and the RM20-year RM1.2 billion IMTN will mature on Nov 25, 2041. 

All the four schemes issued by TNB, have been assigned AAA rating from RAM Ratings, according to BIX. 

At the time of writing, TNB's share price was unchanged at RM9.44, valuing the group at RM54.05 billion. 

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