is 23 years with a periodic distribution rate between 5.1% to 5.8% per annum. The sukuk facility agreement is secured over cash flows generated from the power plant. (vii) Sukuk - JEP On 4 December 2015, JEP issued a Sukuk Murabahah of RM9.0 billion in nominal value. The proceeds from the Sukuk Murabahah were utilised by JEP for shariah-compliant purposes in connection with the financing, design, engineering, procurement, construction, installation, testing, commissioning, ownership, operation and maintenance of a 2,000MW coal-fired power plant and associated facilities, including the transmission line and interconnection facilities. The tenure of the facility agreement is 23 years with profit rates between 5.0% and 6.8% per annum. The sukuk facility agreement consists of 36 tranches with tenures ranging from 6 to 23 years. NOTES TO THEFINANCIAL STATEMENTS 31 December 2023 FINANCIAL STATEMENTS Sec 5 273 26 BORROWINGS (CONTINUED) (b) Bonds or Sukuk (continued) (vii) Sukuk - JEP (continued) The Sukuk Murabahah is secured by the following securities: (a) a charge over the Power Plant Land, the sub-lease of the Power Plant Land, and the lease of the Jetty Lands; (b) fixed and floating charges over all present and future assets of JEP excluding the certain bank accounts and all credit balances therein and any rights, interest, titles and benefits under the Offset Agreement and Offset Management Services Agreement; (c) assignment of all the JEP’s rights, titles, interest and benefits under the project documents and the proceeds therefrom (including the power purchase agree and revenues thereunder) but excluding the generation licence, Offset Agreement and Offset Management Services Agreement; and (d) a charge over certain designated bank accounts. The carrying amounts of total assets pledged as security for current and non-current borrowings are as disclosed. (viii) Multi-currency Sukuk - TNB Global Ventures Capital Berhad (‘TGVC’) On 4 October 2016, TGVC established a USD2.5 billion Multi-Currency Medium Term Note