PNB Merdeka Ventures (PNBMV) tapped Malaysia’s ringgit sukuk market with the inaugural MYR6 billion sustainability merdeka sukuk wakala under its merdeka sukuk wakala programme, a landmark financing for the ongoing development of Kuala Lumpur’s Merdeka 118 precinct.
The programme is rated AAAIS by Malaysian Rating Corporation Berhad (MARC) Ratings with a stable outlook, supported by Permodalan Nasional Berhad (PNB)’s rolling guarantee, and is aligned with PNBMV’s Gold-assessed Sustainable Finance Framework.
The framework channels proceeds towards eligible green and social categories, including green buildings, energy efficiency, sustainable water and wastewater management, clean transportation, climate adaptation and socioeconomic advancement.
The transaction strengthens PNBMV’s long-term capital structure, extends its funding profile and supports one of Asean’s most prominent sustainable real-estate developments
The issuance comprised five-, seven-, 10-, 15- and 20-year tranches, with the 20-year tranche placed privately.
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