CIMB Investment Bank is Euromoney’s best Islamic project finance house this year following its work on a range of transactions throughout the year, and for one in particular that stood out for its innovation and national importance.
The M$975 million ($204 million) green sukuk issued by RP Hydro Kelantan (RPHK) last summer was notable for not only being the largest greenfield non-recourse project financing in local-currency bond or sukuk format, but for funding the build and development of three small hydropower plants that will make an important contribution in helping Malaysia achieve its renewable-energy capacity ambitions.
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