Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on November 2, 2018

KUALA LUMPUR: Tenaga Nasional Bhd (TNB), via its wholly-owned subsidiary TNB Global Ventures Capital Bhd, has issued Islamic bonds (sukuk) worth US$750 million (RM3.13 billion) under its US$2.5 billion sukuk programme.

The sukuk programme was set up in October 2016 to raise funds for general corporate purposes.

In a filing with Bursa Malaysia yesterday, TNB said upon issuance of the sukuk, its consolidated gearing will increase to 0.43 times from 0.41 times as at June 30. “The sukuk issued will not have any impact on the group’s earnings, earnings per share and net assets per share for the current financial year,” it added.

Bloomberg reported that the utility firm had received over US$1.25 billion of orders for the 10-year sukuk.

TNB has also appointed finance ministy’s secretary-general of treasury Datuk Ahmad Badri Mohd Zahir, 58, as a non-independent non-executive director board member.

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