Oct 4, 2016 - INTRODUCTION. On behalf of TNB's Board of Directors, CIMB Investment Bank Berhad (âCIMBâ) is ... inves
TENAGA NASIONAL BERHAD (“TNB”) ESTABLISHMENT OF A MULTICURRENCY SUKUK ISSUANCE PROGRAMME OF US$2.5 BILLION (OR ITS EQUIVALENT IN OTHER CURRENCIES) BY TNB GLOBAL VENTURES CAPITAL BERHAD WITH TNB AS THE OBLIGOR (“SUKUK PROGRAMME”) 1.
INTRODUCTION On behalf of TNB’s Board of Directors, CIMB Investment Bank Berhad (“CIMB”) is pleased to announce that TNB Global Ventures Capital Berhad (“Issuer”), a whollyowned subsidiary of TNB, have on 4 October 2016 established the Sukuk Programme.
2.
DETAILS OF THE SUKUK PROGRAMME The Sukuk Programme has been assigned ratings of A3 Stable by Moody’s Investors Service, Inc. and BBB+ Stable by Standard & Poor’s Rating Services. The Sukuk Programme does not have a fixed tenure. However, any Sukuk issued under the Sukuk Programme will have such maturities as may be agreed between the Issuer and the relevant Dealer. The Sukuk may be listed on Bursa Malaysia Securities Berhad (under an exempt regime), the Singapore Exchange Securities Trading Limited, or such other or further stock exchange(s) as may be agreed between the Issuer and the relevant Dealer in relation to each Series.
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RATIONALE FOR THE SUKUK PROGRAMME The Sukuk Programme will provide TNB and its subsidiaries (“TNB Group”) with the flexibility to time its fund-raising exercises as well as have access to a greater diversity of investors, both on and offshore. The proceeds of each series of the Sukuk received by TNB will be applied by TNB for its general corporate purposes, or, as the case may be, as set forth in the pricing supplement for the relevant series.
4.
APPROVALS OBTAINED/REQUIRED (i)
Approval from Ministry of Finance has been obtained on 21 September 2016;
(ii)
Approval from Bank Negara Malaysia has been obtained on 4 October 2016;
(iii)
Lodgement with the Securities Commission Malaysia has been made on 4 October 2016;
(iv)
An application has been made for the listing of the Sukuk Programme on Bursa Malaysia Securities Berhad (under exempt regime) on 4 October 2016; and
(v)
Approval in principle by Singapore Exchange Securities Trading Limited for the listing of the Sukuk Programme has been obtained on 26 September 2016.
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INTEREST OF DIRECTORS AND/OR MAJOR SHAREHOLDERS AND PERSONS CONNECTED WITH THEM None of TNB’s Directors, major shareholders and/or persons connected to them has any interest, direct or indirect, in the Sukuk Programme.
6.
ADVISERS BNP Paribas (“BNPP”), Citigroup Global Markets Limited (“Citi”), CIMB and HSBC Amanah Malaysia Berhad have been appointed as the Joint Arrangers for the Sukuk Programme. CIMB has been appointed as the Principal Adviser for the Sukuk Programme. BNPP, CIMB, Citi and The Hongkong and Shanghai Banking Corporation Limited have been appointed as Dealers for the Sukuk Programme.
This announcement is dated 4 October 2016. This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States of America or any jurisdiction in which such offer, solicitation or sale would be unlawful. The Sukuk will not be registered under the United States Securities Act of 1933 (as amended) (“Securities Act”) and will be offered outside the United States in accordance with Regulation S under the Securities Act (“Regulation S”), and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.
