plus 1.4% p.a. an applicable margin. The loan will mature on 27 September 2028. (b) Bonds or Sukuk (i) Debentures - USD350M @ 7.5% Due 2025 On 31 October 1995, the Company obtained an unsecured USD350.0 million debentures at fixed interest rate of 7.5% per annum. The debentures will mature on 1 November 2025 with 30 years tenure. The proceeds were used to fund the Company’s capital expenditures. (ii) Debentures - USD150M @ 7.5% Due 2096 On 16 January 1996, the Company obtained an unsecured USD150.0 million debentures at fixed interest rate of 7.5% per annum. The debentures will mature on 15 January 2096 with 100 years tenure. The proceeds were used to fund the Company’s capital expenditures. (iii) Sukuk - TNB Janamanjung Sdn. Bhd. (‘TNBJ’) On 25 November2011, TNBJ through a special purpose entity, established a RM4.9 billion Islamic Securities Programme to finance the construction of 1,010MW coal-fired power plant. The tenure of the Islamic Securities Programme ranges from 5 to 20 years with a profit rate between 3.8% and 4.9% per annum. The Islamic Securities were issued by Manjung Island Energy Berhad (‘MIEB’), a special purpose vehicle company incorporated in Malaysia with a paid up capital of RM2.00 ordinary share. All of the issued shares of MIEB are held by Equity Trust (Malaysia) Berhad as share trustee for the benefit of certain specified charities, under the terms of a declaration of trust. NOTES TO THE FINANCIAL STATEMENTS 31 December 2023 TENAGA NASIONAL BERHAD Integrated Annual Report 2023 272 26 BORROWINGS (CONTINUED) (b) Bonds or Sukuk (continued) (iii) Sukuk - TNB Janamanjung Sdn. Bhd. (‘TNBJ’) (continued) The Sukuk issued from the Islamic Securities Programme consists of 2 series and the details of the series are as follows: (a) Series 1 consists of 15 tranches, with tenures ranging from 5 to 19 years. (b) Series 2 consists of 1 tranche, with tenure of 20 years. The Islamic Securities Programme Series 1 is secured by the followings: (a) a first ranking assignment of all the TNBJ’s rights,