PETRONAS Global Sukuk
Obligor’s name: Petroliam Nasional Berhad (PETRONAS)Under the current terms and conditions of the Sukuk, the issuer will enter into a Wakalah agreement with PETRONAS. The first leg of this agreement will be an Ijarah (for at least 33% of the issued amount) and the second leg will be a Murabahah (for at most 67% of the amount). Under the Ijarah, PETRONAS Global Sukuk will acquire beneficiary interests in several units of a refinery, located in the Malacca region of Malaysia, from PETRONAS Penapisan (Melaka) (not rated), a wholly-owned subsidiary of PETRONAS. The underlying assets for the Murabahah will be made of Shariah compliant commodities.