KUALA LUMPUR: YNH Property Bhd (YNH) has completed its Sukuk Wakalah issuance of RM323 million in nominal value via its Sukuk Wakalah Programme.

       In a filing with Bursa Malaysia today, the company said Series 1 of the Islamic medium-term notes (IMTN) issuance has a nominal value of RM153 million, to mature on Feb 28, 2025.

       Meanwhile, Series 2 of the IMTN issuance has a nominal value of RM170 million, to mature on Feb 26, 2027.

       The Sukuk Wakalah Programme is structured based on the Shariah principle of Wakalah Bi Al-Istithmar and has been assigned a credit rating of A+ IS by Malaysian Rating Corporation Bhd.

       HSBC Amanah Malaysia Bhd has been appointed as the principal adviser, lead arranger and shariah adviser for the Sukuk Wakalah Programme, whereas CIMB Investment Bank Bhd and HSBC Amanah are the joint lead managers. - Bernama