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KUALA LUMPUR: Petronas Gas Bhd’s subsidiary Pengerang LNG (Two) Sdn Bhd (PLNG 2)plans to venture of Islamic medium term notes (Sukuk Murabahah) programme of as much as RM3bil. It acknowledged on Thursday its 65% owned PLNG 2 had lodged the programme with the Securities Charge that can have a tenure of 30 years from the date of the main venture. Petronas Gas acknowledged the programme has been assigned an indicative ranking of AAA by Malaysian Rating Company Bhd. The proceeds from the programme will be aged to repay shareholders’ advances and/or redemption of redeemable want shares along with any associated charges. They would moreover be aged to prepay the marina utilization, as acknowledged in the agreement dated Feb 28, 2017 between Pengerang Terminals (Two) Sdn Bhd and PLNG2. The proceeds would be aged as working capital, capital expenditure and total corporate expenditure capabilities and to fund the finance carrier reserve story. “The Sukuk Murabahah programme will provide PLNG2 the flexibility to eradicate medium to long-term funding to fulfill its industry funding requirements as and when required along with capital structure optimisation, total capital expenditure, working capital and for income-licensed responsibility hedging.“PLNG2 will moreover be ready to diversify its funding sources for better monetary flexibility by tapping the Islamic debt capital markets,” it acknowledged.

Petronas,subsidiary

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