Malaysia’s Tenaga launches $2.5 billion multicurrency sukuk program

By Marisa Wong

Morgantown, W.Va., Oct. 4 – Malaysia’s Tenaga Nasional Bhd. said its wholly owned subsidiary, TNB Global Ventures Capital Bhd., established a $2.5 billion multicurrency sukuk program on Tuesday.

The Regulation S sukuk program (A3/BBB+) does not have a fixed tenor.

BNP Paribas, Citigroup Global Markets Ltd., CIMB and HSBC Amanah Malaysia Bhd. are the joint arrangers. BNP Paribas, Citigroup, CIMB and Hongkong and Shanghai Banking Corp. are the dealers. CIMB is the principal adviser.

Proceeds will be used for general corporate purposes.

Tenaga is an electric utility based in Kuala Lumpur.

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