Sunway unit completes first issuance of RM230m under MTN programme

• Its utilisation will comply with the guiding principles of the Asean Green Bond Standards, the Asean Social Bond Standards and/or the Asean Sustainability Bond Standards, the Green Bond Principles issued by the International Capital Market Association (ICMA).

KUALA LUMPUR (Sept 30): Sunway City Sdn Bhd’s 100%-owned subsidiary, Sunway Iskandar Development Sdn Bhd (SIDSB), has made its first issuance of Tranche 1 Series 1 Sustainability medium-term notes (MTN) of RM230 million in nominal value under its MTN programme.

Sunway City is a wholly-owned subsidiary of Sunway Bhd (KL:SUNWAY).

In a Bursa Malaysia filing on Tuesday, Sunway said SIDSB will utilise proceeds raised from the issuance to part-finance/reimburse Sunway Treasury Sukuk Sdn Bhd for the land and the earthwork cost related to the development of the Pendas land, said Sunway.'

Its utilisation will comply with the guiding principles of the Asean Green Bond Standards, the Asean Social Bond Standards and/or the Asean Sustainability Bond Standards, the Green Bond Principles issued by the International Capital Market Association (ICMA), the filing said.

“The utilisation shall also comply with the social bond principles and the sustainability bond guidelines issued by the ICMA, as well as the inaugural sustainable finance framework issued by SIDSB.

Alliance Bank Malaysia Bhd is the sustainability structuring advisor who developed the framework for SIDSB, the filing said.

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