Malaysia's Tenaga plans to sell up to 5bln rgt sukuk
KUALA LUMPUR, July 5
KUALA LUMPUR, July 5 (Reuters) - Malaysia's national power producer Tenaga Nasional will sell as much as 5 billion ringgit ($1.7 billion) in 20-year Islamic bonds, chief executive Che Khalib Mohamad Noh said.
The company will issue the sukuk in August or September with the proceeds used to finance a coal-fired power plant in Janamanjung in the northern state of Perak.
The bonds will be structured according to the ijara or Islamic leasing contract.
($1 = 3.003 Ringgit)
(Click on for more Islamic finance stories and for a speed guide) (Reporting by Liau Y-Sing, editing by Niluksi Koswanage)
- Gaza fighting abates as diplomatic tension flares |
- Hague court orders Russia to pay over $50 billion in Yukos case
- Europe nervy as Russian assets hit by new sanctions talk
- Ukraine troops advance as experts renew attempt to reach crash site
- Pushing locals aside, Russians take top rebel posts in east Ukraine