Thursday 12, December 2013 by Robin AmlĂ´t

MARC assigns preliminary rating of AAAIS to TNB Western Energy’s MYR 4 billion Sukuk programme

MARC has assigned a preliminary rating of AAAIS to TNB Western Energy Berhad’s issuance of MYR 4.0 billion Islamic Securities (Sukuk) with a stable outlook. TNB Western Energy is a wholly-owned funding vehicle of TNB Manjung Five Sdn Bhd (TNB Manjung Five) which in turn is wholly owned by national utility company Tenaga Nasional Berhad (TNB). TNB Manjung Five is the project company for the construction of a 1,000-megawatt (MW) ultra-supercritical (USC) coal-fired power plant (the project) on existing land owned by TNB Janamanjung Sdn Bhd (TNBJ) in Manjung, Perak.

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