KUALA LUMPUR: TENAGA NASIONAL BHD [] has proposed to issue RM5 billion in Islamic debt notes to finance the development of the 1,010 MW coal fired power plant in Manjung, Perak.
The utility giant said on Friday, Oct 21 it would establish an Islamic securities programme of RM5.0 billion in nominal value through an independent special purpose company, Manjung Island Energy Bhd.
“The proposed Islamic securities programme will have a tenure of 28 years from the date of first issue, which is expected to be in November 2011,” it said.
Tenaga said the proceeds would be used to purchase certain Shariah-compliant leasable assets from TNB Janamanjung Sdn Bhd, a unit of Tenaga.
The utility giant said on Friday, Oct 21 it would establish an Islamic securities programme of RM5.0 billion in nominal value through an independent special purpose company, Manjung Island Energy Bhd.
“The proposed Islamic securities programme will have a tenure of 28 years from the date of first issue, which is expected to be in November 2011,” it said.
Tenaga said the proceeds would be used to purchase certain Shariah-compliant leasable assets from TNB Janamanjung Sdn Bhd, a unit of Tenaga.
