Tenaga Nasional Bhd, Malaysia’s biggest power producer, is seeking to price its RM4.85 billion (US$1.55 billion) Islamic bond to yield between 3.8 percent and 4.95 percent, according to a person familiar with the matter.
Proceeds from Islamic bonds, or sukuk, which pay returns from assets that comply with the religion’s ban on interest, will be used to finance the company’s coal-fired plant in the state of Perak, north of Kuala Lumpur, the person said, declining to be identified because the details are private.
Orders for the debt, which will be sold in 17 portions with tenors ranging from five to 20 years, will close at 5 p.m. Kuala Lumpur time today, according to the person. -- Bloomberg
Proceeds from Islamic bonds, or sukuk, which pay returns from assets that comply with the religion’s ban on interest, will be used to finance the company’s coal-fired plant in the state of Perak, north of Kuala Lumpur, the person said, declining to be identified because the details are private.
Orders for the debt, which will be sold in 17 portions with tenors ranging from five to 20 years, will close at 5 p.m. Kuala Lumpur time today, according to the person. -- Bloomberg
