KUALA LUMPUR: LBS Bina Group Bhd has lodged a sukuk Wakalah programme of up to RM750.0 million in nominal value with the Securities Commission.
LBS Bina executive chairman Tan Sri Lim Hock San said the sukuk and establishment of its inaugural sustainability financing framework demonstrates its humble aspiration towards a responsible, sustainable and socially inclusive future.
"This is also a key step towards LBS' goal of Net Zero Carbon Emissions by 2050," Lim said in a statement today.
The programme has been assigned a preliminary credit rating of AA-IS with a Stable outlook by MARC Ratings Bhd.
LBS Bina said the proceeds raised from the sukuk will be used for Shariah-compliant purposes, including capital expenditures, investments, general corporate purposes, working capital, and refinancing.
The programme provides flexibility for the company to issue both sukuk Wakalah and green and responsible investment (SRI) sukuk Wakalah.
"This aligns with LBS' inaugural Sustainability Financing Framework, which has received a 'Gold' Impact Bond Assessment by MARC.
"The framework has been established to set the guiding principles for LBS' sustainable financing instruments, targeting specific eligible projects that contribute to environmental and social benefits," it said.
HSBC Amanah Malaysia Bhd and RHB Investment Bank Bhd are the joint principal advisers, joint lead arrangers and joint lead managers of the Sukuk Wakalah Programme.
In addition, HSBC Amanah is the sole sustainability structuring agent and sole Shariah adviser of the sukuk.
