Kuala Lumpur – Pengurusan Air Selangor Sdn. Bhd. (“Air Selangor”) has successfully completed a RM900.0 million SRI Sukuk Kelestarian Air Selangor (“SRI Sukuk”) issuance across 4 series from 7 years to 20 years, the third tranche under its existing RM10.0 billion Sukuk Murabahah Programme. The SRI Sukuk issuance was oversubscribed by 1.7 times.
The proceeds from the SRI Sukuk will be utilised to finance eligible projects that comply with Air Selangor’s Sustainable Development Sukuk Kelestarian Framework. Eligible projects include, amongst others, sustainable water supply (including the development of the Rasau Water Supply Scheme) and sustainable water management projects, all of which are in line with Air Selangor’s efforts and commitment to the sustainability of water supply systems for our future generations.
Suhaimi Kamaralzaman, Chief Executive Officer of Air Selangor said, “The oversubscription of the SRI Sukuk issuance is a testament to the confidence of investors towards Air Selangor as well as the strong uptake on sustainable investing in the market. This reiterates our SRI Sukuk’s creditworthiness and the desire of investors to support the sustainable agenda to positively impact the environment and communities around. With the issuance of our latest SRI Sukuk, we take another step in our journey towards becoming the leading water services provider in Asia by 2030.”
Bank Islam Malaysia Berhad and CIMB Investment Bank Berhad, being the Joint Lead Managers, played a significant role in the book-building process and were instrumental in this success.
The Sukuk Murabahah Programme has reaffirmed the long and short-term ratings of AAA with stable outlook and P1 respectively by RAM Rating Services Sdn Bhd on 13 September 2021. The AAA rating indicates superior safety for payment of financial obligations while the P1 rating reflects high safety for payment of financial obligations in the short term.
For more information on Air Selangor, please visit Air Selangor’s website via www.airselangor.com.
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