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Telekosang hydro successfully issues IMTN of up to RM470 mln

KUALA LUMPUR, Aug 6 (Bernama) -- Telekosang Hydro One Sdn Bhd successfully issued today its Islamic medium-term notes (IMTN) of up to RM470 million in nominal value, the world’s first greenfield mini-hydro green SRI Sukuk, under the Shariah principle of Wakalah Bi Al-Istithmar.

The Telekosang ASEAN Green SRI Sukuk complies with the Sustainable Responsible Investment (SRI) Sukuk Framework under the Securities Commission Malaysia’s (SC) Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework.

MIDF Amanah Investment Bank Bhd, Principal Advisor, Lead Arranger and Lead Manager in a statement today said the Sukuk also complied with the  ASEAN Capital Markets Forum’s ASEAN Green Bond Standards (ASEAN GBS) and International Capital Market Association’s (ICMA) Green Bond Principles.

The issuer has also successfully issued its junior bonds of up to RM120 million in nominal value under the ASEAN GBS and Green Bond Principles (Telekosang ASEAN Green Junior Bonds).

Both Telekosang ASEAN Green SRI Sukuk and Telekosang ASEAN Green Junior Bonds were fully subscribed on issuance.

To recap, Telekosang Hydro One and Telekosang Hydro Two Sdn Bhd were granted feed-in approvals on Oct 26, 2017by from Sustainable Energy Development Authority Malaysia for the development of a 24 MW and a 16 MW small hydropower plant respectively, (using run-of-river scheme) located in Tenom, Sabah.

RAM Rating Services Bhd has assigned ratings of AA3/Stable to the Telekosang ASEAN Green SRI Sukuk and A2/Stable to the Telekosang ASEAN Green Junior Bonds. 

-- BERNAMA

 

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