KUALA LUMPUR (Dec 30): Cypark Resources Bhd (KL:CYPARK) said its unit has fully redeemed its outstanding Tranche 1 perpetual sukuk.

The unit, Cypark Renewable Energy Sdn Bhd’s perpetual sukuk under the tranche, amounting to RM235 million, was fully redeemed on Tuesday (Dec 30), according to the group’s statement.

The redemption is one of several initiatives under its RM1.3 billion refinancing programme with MBSB Bank, Cypark noted. The financing facility was secured to refinance its renewable energy assets in solar and waste-to-energy earlier in August.

“The early and full redemption of Tranche 1 of perpetual sukuk musharakah reflects the steady progress we are making in strengthening Cypark as an organisation and reinforces our commitment to meeting our obligations,” Cypark group managing director Datuk Ami Moris said.

Cypark said the exercise forms part of the group’s broader balance sheet optimisation efforts, following its group-wide refinancing exercise that will enable it to address legacy financing structures and strengthen its long-term capital profile.

Cypark’s perpetual sukuk amounted to RM552.04 million as at end-October 2025.

The RM235 million under Tranche 1 was issued under various series between 2020 and 2023. The issuance was done under its perpetual sukuk programme of up to RM500 million.

In September 2023, CRE issued Tranche 2 of RM100 million in perpetual sukuk and Tranche 3 of RM165 million.

The perpetual sukuk carried an initial fixed periodic distribution rate between 6.50% and 6.85% per annum payable on a semi-annual basis in arrears, according to Cypark’s annual report.

Shares in Cypark ended one sen or 1.44% lower at 68.5 sen, valuing the group at RM563.64 million.