Tenaga Nasional issues RM4.8 billion sukuk for transition projects
The second issuance under its RM10 billion programme comprises six tranches with tenures of five to 25 years.
Tenaga Nasional Bhd has raised RM4.8 billion through Islamic medium-term notes to fund or refinance eligible transition projects. The company said in a bourse filing that the issuance would add RM4.8 billion to consolidated borrowings, without an expected material effect on earnings.
The notes carry annual periodic distribution rates ranging between 4.2% and 4.88%, across six tranches maturing in five to 25 years. They were issued under Tenaga's RM10 billion sustainability sukuk wakalah programme.
Tenaga announced the programme in April and issued RM4 billion in May. The latest issuance is its second under the programme, which supports its sustainability goals. The utility aims to reach net-zero emissions by 2050.
At June 30, 2026, Tenaga's total borrowings stood at RM60.96 billion, against RM13.17 billion in cash and cash equivalents. Net borrowings were RM47.79 billion, while its net gearing ratio was 89.53%.
CIMB Investment Bank Bhd and Maybank Investment Bank Bhd serve jointly as the programme's principal advisers, lead arrangers and lead managers.
Tenaga's shares closed at RM13.30, gaining two sen or 0.15%. The closing price put the company's market value at RM77.53 billion.
