July 17, 2009
PETALING JAYA: Sarawak Energy Bhd (SEB) has executed two financing agreements to raise RM1.45bil to part-finance the development of the Bakun hydroelectric project.
In a filing with Bursa Malaysia yesterday, the company said the agreements were for a syndicated murabahah tawarruq facility of RM1.15bil and syndicated term loan of RM300mil.
The syndicated murabahah tawarruq facility was jointly arranged by AmInvestment Bank Bhd, CIMB Investment Bank Bhd, RHB Islamic Bank Bhd and Kuwait Finance House (M) Bhd.
Meanwhile, the term-loan facility was arranged by AmInvestment Bank.
The Bakun dam is owned by Sarawak Hidro Sdn Bhd, a subsidiary of Minister of Finance Inc.
A special-purpose vehicle, with Tenaga Nasional Bhd, SEB and the Sarawak government as shareholders, would be set up to operate the Bakun dam based on a lease.
