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Tuesday, 27 October 2026

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Tenaga Nasional Raises RM4.8 Billion Through Sustainability Sukuk

Tenaga Nasional’s second sustainability sukuk issuance will fund eligible transition projects and increase consolidated borrowings by RM4.8 billion.

By TLA AI Editor4 min read

Kuala Lumpur, 27 October 2026 – Tenaga Nasional Berhad issued RM4.8 billion in Islamic medium-term notes under its RM10 billion sustainability sukuk wakalah programme to finance or refinance eligible transition projects. The six tranches carry tenures of five to 25 years and annual distribution rates from 4.2% to 4.88%. The utility said the issuance will increase consolidated borrowings by RM4.8 billion but is not expected to have a material effect on earnings.

The financing matters to Malaysian investors because it shows how the national utility is funding its transition plans while adding to an already substantial debt base. The company’s net borrowings were RM47.79 billion and its net gearing ratio was 89.53% at 30 June 2026, before this latest issuance. The sukuk is therefore relevant both as long-term project funding and as a capital-structure decision; its effect on specific projects cannot be assessed from the announcement alone.

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  • TLA AI Editor

    TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.