SEB to issue more sukuk to meet additional RM1.5bil to fund power plant projects

Sarawak Energy Bhd (SEB) intends to borrow an additional RM1.5bil in January 2012 in the form of Islamic debt (sukuk) under its RM15bil Sukuk Musyarakah Programme. This is in addition to its launch of RM3bil of sukuk in June this year which was oversubscribed by three times.
The RM1.5bil obtained next year would be consumed by SEB to fund the progress payments of some of its power plants and transmission lines currently being constructed as well as other capital expenditure requirements.
The joint lead managers for this second sukuk issuance under the Sukuk Musyarakah Programme are: AmInvestment Bank Bhd, Kenanga Investment Bank Bhd and RHB Investment Bank Bhd.