Congratulations to our Banking & Finance team at the IFN Deals of the Year Awards 2024.
Sustainability was an important feature at the IFN Deals of the Year 2024, and we are grateful to have been recognised for the following deals.
IFN Real Estate Deal of the Year 2024
KLCC Property Holdings' RM5 Billion (USD1.1 Billion) Sukuk led by Gan Kok Ling and Goh Chai Ling, and assisted by Shawn Chew
This significant deal in which we acted as legal counsel for the arrangers, Maybank Investment Bank, is a program that supports either sustainability Sukuk Wakalah or sustainability-linked Sukuk Wakalah in line with the Securities Commission Malaysia's Sustainability and Sustainability-Linked Sukuk Guidelines/Frameworks. The deal also supports KLCC REIT's investment in Shariah compliant real estate.
IFN Tawarruq Deal of the Year 2024
SEP Resources (M)'s RM185 Million (USD41.06 Million) Sukuk also led by Kok Ling & Chai Ling, and assisted by Francessca Ho and Shawn
These Islamic medium term notes qualify as ASEAN Sustainability SRI Sukuk Wakalah. The privately placed Sukuk arranged for SEP by MIDF Amanah Investment Bank and Public Investment Bank tell a different story from what have been the usual winners. The proceeds from the subscription will be used to acquire new Murabahah stocks utilised by SEP's wholly owned subsdiary to make advances to its holding company Pesona Metro Holdings and its subsidiaries via Shariah compliant inter-company Tawarruq advances for the purposes of financing or refinancing qualifying projects defined in SEP's internal ASEAN Sustainability SRI Sukuk Wakalah Framework.
