KUALA LUMPUR: Sarawak Energy Bhd (SEB) has issued RM3 billion out of the RM15.0 billion Sukuk Musyarakah programme which will be used for capital expenditure and refinancing some existing borrowings.
RHB Investment Bank Bhd said on Thursday, June 23 the first tranche of RM500 million has a maturity of five years with a profit rate of 4.40% per annum. The second tranche of RM700 million at 4.7% per annum is for seven years.
The remaining tranches comprising of longer-dated maturities were priced at 5.15% pa for 10 years (RM1.0 billion) and 5.65% pa for 15 years (RM800 million).
RAM Rating Services Bhd has accorded a long-term rating of AA1 for the Sukuk Musyarakah programme.
RHB Investment Bank is the sole principal adviser and lead arranger for the programme. For this maiden issue, RHB Investment Bank is also the joint lead managers with AmInvestment Bank Bhd.
RHB Banking Group acting director, corporate and investment banking, Mike Chan said the good demand of the issue reflected SEB's high credit standing amongst investors. It is also the single biggest issue by a power utility company so far this year.
'It is significant to note that the Sukuk programme with an overall limit of RM15 billion represents the single largest debt programme ever established by a power utility company in the domestic market and is designed to cater to the funding requirements of SEB from now till 2016,' Chan said.
RHB Investment Bank Bhd said on Thursday, June 23 the first tranche of RM500 million has a maturity of five years with a profit rate of 4.40% per annum. The second tranche of RM700 million at 4.7% per annum is for seven years.
The remaining tranches comprising of longer-dated maturities were priced at 5.15% pa for 10 years (RM1.0 billion) and 5.65% pa for 15 years (RM800 million).
RAM Rating Services Bhd has accorded a long-term rating of AA1 for the Sukuk Musyarakah programme.
RHB Investment Bank is the sole principal adviser and lead arranger for the programme. For this maiden issue, RHB Investment Bank is also the joint lead managers with AmInvestment Bank Bhd.
RHB Banking Group acting director, corporate and investment banking, Mike Chan said the good demand of the issue reflected SEB's high credit standing amongst investors. It is also the single biggest issue by a power utility company so far this year.
'It is significant to note that the Sukuk programme with an overall limit of RM15 billion represents the single largest debt programme ever established by a power utility company in the domestic market and is designed to cater to the funding requirements of SEB from now till 2016,' Chan said.
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