Priya Sirisena

Priya Sirisena

Key Practice Areas:

Priya’s area of practice is primarily in banking and finance work with experience advising on a broad range of banking and debt capital markets transactions (covering both Islamic as well as conventional finance). Her experience includes advising on corporate bonds and Sukuk programmes and issuances (including Additional Tier 1 Sukuk, Tier 2 Sukuk, perpetual Sukuk and power plant financings for green/sustainable and conventional projects), bilateral and syndicated term financings and other general banking and finance matters, and she has played a major role in advising on pioneering and award-winning Malaysian Islamic capital markets transactions, including ASEAN Green SRI Sukuk and SRI Sukuk.

Qualifications

  • LL.B. (Hons) – University of London (External)
  • Certificate of Legal Practice

Admissions

  • Malaysian Bar (2011)

Languages

  • English
  • Bahasa Malaysia

Market Leading Experience

  • Advising Affin Hwang Investment Bank Berhad in relation to a Sukuk programme for the issuance of up to RM250.0 million in nominal value based on the Islamic principles of Istisna’ and Ijarah in accordance with the Sustainable and Responsible Investment Sukuk (SRI) requirements under the Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework by Tadau Energy Sdn Bhd, for the financing of four (4) solar photovoltaic plants with an aggregate net capacity of 50 MWac, all located in Kudat, Sabah, Malaysia. The first issuance of the Green SRI Sukuk under the programme was made on 27 July 2017, and was the first green Sukuk issued in the world.
  • Advising OCBC Al-Amin Bank Berhad in relation to the issuance of ASEAN Sustainability SRI Sukuk of up to RM245.0 million in nominal value based on the Islamic principle of Murabahah by Edra Solar Sdn Bhd for the financing of a solar photovoltaic plant with an aggregate net capacity of 50 MWac located in Kuala Ketil, Kedah. The ASEAN Sustainability SRI Sukuk issued by Edra Solar Sdn Bhd is the country’s first to be aligned with the requirements of the Securities Commission Malaysia’s SRI Sukuk Framework, the ASEAN Green Bond Standards, the ASEAN Social Bond Standards as well as the globally recognised Green Bond Principles, Social Bond Principles and Sustainability Bond Guidelines. Our firm was named the winner in the Energy & Natural Resources category of the Islamic Finance News (“IFN”) Awards for its work on this transaction.
  • Advising Maybank Investment Bank Berhad as the principal adviser and lead arranger in relation to the RM10.0 billion Islamic medium term notes programme established by Imtiaz Sukuk II Berhad, with Bank Kerjasama Rakyat Malaysia Berhad as the obligor thereunder, whereby the Issuer envisages the issuance of Sukuk Wakalah for general corporate purposes as well as Sukuk Wakalah in in accordance with the Sustainable and Responsible Investment Sukuk (SRI) requirements under the Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework. This transaction was named the Debt Market Deal of the Year at the Asian Legal Business Malaysia Law Awards (“ALB Awards”) 2021.
  • Advising CIMB Investment Bank Berhad and Maybank Investment Bank Berhad in relation to a Sukuk issuance of up to RM1.0 billion in nominal value based on the Islamic principle of Murabahah (via Tawarruq arrangement) by Quantum Solar Park (Semenanjung) Sdn Bhd for the financing of three solar power plants with an aggregate net capacity of 150 MWac. The issuance of the Sukuk was made in October 2017 and was the largest green Sukuk in the world. Being the largest in those areas is one of the key features of the Green SRI Sukuk, however, its key unique feature is in its financing and legal structure where the Issuer is the immediate holding company of three (3) project companies undertaking their respective large-scale solar projects in different areas in Kedah, Melaka and Terengganu. This transaction was named the Project & Infrastructure Finance Deal of the Year at IFN Deals of the Year Awards 2017.
  • Advising CIMB Investment Bank Berhad, Maybank Investment Bank Berhad and RHB Investment Bank Berhad in relation to a Sukuk issuance of up to RM5.28 billion in nominal value based on the Islamic principle of Wakalah Bi Al-Istithmar by Edra Energy Sdn Bhd for the financing of three generating blocks of gas fired power plant with capacity of 2,242 MW in Alor Gajah, Melaka. This was the largest power plant project in 2017. This transaction was named the Projects, Energy and Infrastructure Deal of the Year at the ALB Awards 2019.
  • Advising Bank Pembangunan Malaysia Berhad and RHB Investment Bank Berhad as the joint principal advisers and joint lead arrangers and Bank Pembangunan Malaysia Berhad and Danajamin Nasional Berhad as the guarantors in relation to the RM1.0 billion Islamic medium term notes programme established by West Coast Expressway Sdn Bhd. This transaction was awarded the Blueprint Award for Project Finance Benchmark Deal by RAM Rating Services Berhad at the RAM League Awards 2016.
  • Advising CIMB Investment Bank Berhad, HSBC Amanah Malaysia Berhad and Maybank Investment Bank Berhad in relation to a Sukuk issuance of up to RM10.0 billion in nominal value based on the Islamic principle of Murabahah (via Tawarruq arrangement) by Jimah East Power Sdn Bhd, a subsidiary of Tenaga Nasional Berhad for the financing of two units of ultra-supercritical coal fired generating power plants with an aggregate net capacity of 2,000 MW in Jimah, Negeri Sembilan, Malaysia. This was the largest greenfield power deal in Asia and the largest Sukuk deal in 2015. This transaction was named the Debt Market Deal of the Year (Premium) and Malaysia Deal of the Year at the ALB Awards 2016.
  • Advising Affin Investment Bank Berhad in relation to an Islamic medium term notes programme of RM5.0 billion in nominal value for the issuance of Senior Sukuk Murabahah, Tier 2 Sukuk Murabahah and/or perpetual Additional Tier 1 Capital Sukuk Wakalah by Affin Islamic Bank Berhad. This transaction was named the Islamic Deal of the Year at the ALB Awards 2019.
  • Advising AmInvestment Bank Berhad, CIMB Investment Bank Berhad, Maybank Investment Bank Berhad, OCBC Al-Amin Bank Berhad and RHB Investment Bank Berhad in relation to a perpetual Islamic notes programme for the issuance of perpetual Islamic notes of up to RM1.0 billion in nominal value based on the Shariah principle of Musharakah by WCT Holdings Berhad.

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