TNB's subsidiary lodges Sukuk Wakalah programme with SC

Tenaga Nasional Bhd’s (TNB) wholly-owned subsidiary, TNB Power Generation Sdn Bhd (TPGSB) had lodged a Sukuk Wakalah Programme of up to RM10 billion with the Securities Commission Malaysia.

In a filing with Bursa Malaysia today, TNB said the Sukuk Wakalah Programme would provide TPGSB with the flexibility to time its fund-raising exercises with varying nominal value and tenures for optimal asset-liability matching.

"The Sukuk Wakalah Programme shall have a tenure of 30 years from the date of the first issue of Sukuk Wakalah under the Sukuk Wakalah Programme which shall be made within 90 business days from the date of the lodgment with the SC (or such other extended dates approved by the SC).

"The tenure of each Sukuk Wakalah to be issued under the Sukuk Wakalah Programme shall be between one year and up to 30 years, provided that no Sukuk Wakalah shall mature after the expiry of the Sukuk Wakalah Programme,” it said.

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