KUALA LUMPUR: Pengurusan Air Selangor Sdn Bhd's (Air Selangor) largest SRI Sukuk of RM1 billion has been oversubscribed 3.6 times.
The SRI Sukuk Kelestarian Air Selangor was issued across five series ranging from seven to 25 years.
The company said that supported by firm orders from the investors amounting to RM3.6 billion, the offering was upsized from its initial issuance size of RM700 million to RM1.0 billion at book close.
"We are very pleased with the outcome and strong support from the investors, as reflected in the remarkable oversubscription of 3.6 times.
"It is a testament to investors' continuing confidence in Air Selangor's credit and the desire of investors to support our sustainability agenda to impact the environment and communities around us positively," said Air Selangor's acting chief executive officer Abas Abdullah.
Proceeds from the SRI Sukuk issuance will be utilised for eligible SRI projects that meet the criteria in the Air Selangor Sustainable Development Sukuk Kelestarian Framework and the sustainability guidelines and framework.
Eligible projects as per the guideline or framework include, amongst others, sustainable water supply and sustainable water management projects, all of which align with Air Selangor's efforts and commitment to the sustainability of water supply systems for our future generations.