ASEAN Sustainable Finance State of the Market 2020
Leader Energy’s Green Sukuk was presented as a case study for Malaysia in the ASEAN Sustainable Finance 2020 Report (on page 9) by the Climate Bonds Initiative Group.
Case study: Leader Energy’s green sukuk
In July 2020, Leader Energy issued its first ASEAN green sustainable and responsible investment (SRI) sukuk of MYR260m (USD60.9m) to part-finance and/or part-reimburse the development of two solar photovoltaic power projects with a combined capacity of 49MW in Kuala Muda, Kedah.
The sukuk was assigned an AA-IS rating by Malaysian Rating Corporation Berhad (MARC) and also aligned with the ICMA Green Bond Principles, ASEAN Green Bond Standards, and the Securities Commission Malaysia’s SRI Framework. It has the lowest weighted average cost of financing among AA3/AA- solar power project financing sukuk issuances ever and marks Leader Energy’s debut project financing issuance in the Malaysian ringgit bond market.
Download the ASEAN Sustainable Finance 2020 Report from the link below: