26 October 2021

Please click HERE for the Mandarin version of the deal update.

Celine Rangithan, Isabella Ng Ling Ling and Christin Wong Tsui Yuan from Zul Rafique & Partners’ Banking & Finance practice group have advised and acted for HSBC Amanah Malaysia Berhad in relation to the lodgement to the Securities Commission Malaysia for the establishment by Yinson Holdings Berhad (“Yinson”) of a Sukuk Wakalah Programme of up to MYR1 Billion based on the Shariah principle of Wakalah Bi Al-Istithmar pursuant to the Securities Commission Malaysia’s Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework. The Sukuk Wakalah Programme caters for the issuance of rated and senior ranking Sukuk Wakalah with flexibility for Yinson to issue Sustainability-Linked Sukuk Wakalah in addition to ASEAN Green/Social/Sustainability/SRI Sukuk.

The first issuance under the Sukuk Wakalah Programme shall be made within 60 business days from the date of the lodgement to the Securities Commission Malaysia.

Yinson in a statement mentioned that the proceeds raised from the issuance of the Sukuk Wakalah under the Sukuk Wakalah Programme will be used for several syariah-compliant purposes such as refinancing of existing financing/borrowings and general corporate purposes.

The transaction was also featured in The EDGE on 25 October 2021, HERE
Please click HERE for the Bursa Malaysia Announcement.

For more insight into this area of law, please contact our Partners in the Banking and Finance practice group:
Loh Mei Mei
Kung Suan Im
Ashela Ramaya
Chan Kwan Hoe
Celine Rangithan

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