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Maybank, OCBC jointly arrange RM1.1 billion Islamic term financing for YTL green project

 Publish date: Fri, 20 Jan 2023, 10:44 AM

KUALA LUMPUR: Malayan Banking Bhd (Maybank) and OCBC Bank (Malaysia) Bhd are the joint mandated lead arrangers for a RM1.10 billion Islamic term financing facility granted to YTL Power International Bhd's unit YTL DC South Sdn Bhd (YTL DC).

OCBC Bank (Malaysia) managing director, senior banker and head of investment banking Tan Ai Chin said OCBC has been a prime mover in pioneering various sustainable financing initiatives in the Malaysian capital markets.

"We are pleased to have the honour of working with YTL, a leading international conglomerate, in structuring and lead arranging its first green financing which signifies YTL's commitment to a sustainable circular ecosystem," she said in a joint statement yesterday.

She added that OCBC has doubled its sustainable financing target to S$50 billion compared to a previous set target of S$25 billion to be achieved by 2025.

"This comes after OCBC's remarkable achievement of surpassing the initial target with a total S$34 billion sustainable financing in 2021," she added.

Maybank Global Banking Group chief executive officer Datuk Muzaffar Hisham said the bank is pleased to extend the banking support towards YTL's first green financing facility in an effort to assist in the YTL Group's sustainability agenda for a low carbon and climate resilient transition.

"This would accelerate YTL's aspirations of achieving carbon neutrality by 2050. This transaction would further mobilise RM50 billion in sustainable financing by 2025 and we are proud to be partnering with YTL in their transition towards a sustainable economy," he said.

Meanwhile, the transaction signifies YTL Power's ongoing commitment towards transitioning to a green and circular economy while contributing to its environmental objectives of climate change mitigation and the promotion of green buildings.

The facility was emplaced to fund the development of the 48MW IT Load Hyperscale Data Centre located at Kulai, Johor.



 - BERNAMA

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