KUALA LUMPUR (Oct 27): Tenaga Nasional Bhd (KL:TENAGA) has issued RM4.8 billion in Islamic medium-term notes under its RM10 billion sustainability sukuk wakalah programme to finance or refinance eligible transition projects as part of its sustainability goals.
The utility giant aspires to achieve net-zero emissions by 2050.
This is the second issuance under the programme, following a RM4 billion issuance in May. Tenaga announced the RM10 billion programme in April.
The issuance will increase the group's consolidated borrowings by RM4.8 billion but is not expected to have a material impact on earnings, Tenaga said in a bourse filing on Tuesday.
The sukuk was issued in six tranches, with tenures ranging from five to 25 years and annual periodic distribution rates of between 4.2% and 4.88%.
As at June 30, 2026, Tenaga had cash and cash equivalents of RM13.17 billion and total borrowings of RM60.96 billion, translating into net borrowings of RM47.79 billion and a net gearing ratio of 89.53%.
CIMB Investment Bank Bhd and Maybank Investment Bank Bhd are the joint principal advisers, joint lead arrangers and joint lead managers for the sukuk wakalah programme.
Tenaga shares ended two sen, or 0.15%, higher at RM13.30 on Tuesday, valuing the country's utility giant at RM77.53 billion.