Tenaga issues US$750m sukuk, Ahmad Badri joins its board

Institution : Bursa Malaysia
02 November, 2018      333



KUALA LUMPUR (Nov 1): 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 today, TNB said upon issuance of the sukuk, its TNB’s 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.

It was previously reported by Bloomberg that the national utility firm had received over US$1.25 billion (RM4.15 billion) of orders for the 10-year sukuk.

Separately, TNB has appointed Datuk Ahmad Badri Mohd Zahir to its board as a non-independent, non-executive director.

Ahmad Badri, 58, is currently the secretary-general of treasury in the Ministry of Finance and is also a director of DanaInfra Nasional Bhd.

TNB shares closed down 14 sen or 0.95% to RM14.56 today, giving it a market capitalisation of RM82.67 billion.

Original Source: http://www.theedgemarkets.com/article/tenaga-issues-us750m-sukuk-ahmad-badri-joins-its-board


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