Water services provider Pengurusan Air Selangor Sdn Bhd (Air Selangor) has completed its seventh and largest SRI Sukuk Kelestarian issuance, worth RM1.5 billion, to fund water and sustainability projects.
In a statement, it said this is the eighth round under its Sukuk Murabahah Programme, split into five parts with repayment periods of seven to 25 years.
Chief executive officer Adam Saffian Ghazali said the sukuk supports Air Selangor’s long-term sustainable funding strategy.
The sukuk saw strong demand, with RM3.77 billion in orders — 2.5 times the amount offered.
Funds will go towards projects under its Sustainable Development Framework, including the Rasau Water Supply Scheme and pipe replacement works.
The sukuk has an AAA rating from RAM Rating Services Bhd (as of Aug 28).
Bank Islam was the principal adviser, lead arranger, and shariah adviser, while CIMB Investment Bank Bhd and Maybank Investment Bank Bhd acted as joint lead managers.
Source: https://theedgemalaysia.com/
