KUALA LUMPUR: Samaiden Group Berhad has established RM1 billion Islamic medium term notes (IMTN) programme and a RM500 million Islamic commercial papers (ICP) programme under the shariah principle of Wakalah bi al-Istithmar.
The renewable energy (RE) specialist said the programmes will allow it to issue both rated and unrated Islamic notes and papers, with the option for them to be secured or unsecured, with or without a financial guarantor.
The financial instruments will support its capital expenditures, working capital, general corporate purposes, project investments, asset acquisitions, refinancing of existing and future Shariah-compliant financings, as well as defraying all fees and expenses incidental to the programmes.
"The IMTN programme will have a tenure of 30 years, while the ICP programme has a tenure of seven years from their respective first issuance dates.
"The programmes will adhere to Samaiden's sustainability sukuk framework, which has been evaluated and accorded a Gold Sustainable Finance rating by RAM Sustainability Sdn Bhd," Samaiden said in a statement today.
Group managing director Chow Pui Hee said the programmes provide the company with the financial flexibility needed to support upcoming projects and align with its commitment to sustainability and shariah principles.
"Additionally, we offer attractive opportunities for Islamic investors to participate in sustainable and ethically aligned investments.
"The board of directors believes that these initiatives are in the best interest of the company," she added.
Hong Leong Investment Bank Bhd is the principal adviser, lead arranger, lead manager and facility agent for the programmes.