Malaysia's Tenaga sukuk priced 3.8-4.9pct; oversubscribed 4.7 times

KUALA LUMPUR Thu Oct 27, 2011 12:28am EDT

KUALA LUMPUR Oct 27 (Reuters) - Malaysia's national power producer Tenaga Nasional Bhd's 4.85 billion ringgit ($1.55 billion) Islamic sukuk attracted 23 billion ringgit worth of subscriptions and was priced 3.8-4.9 percent, IFR reported on Thursday.

IFR, a unit of Thomson Reuters, said the AAA-rated sukuk was divided into 16 tranches, and pricing was "at or below the tight ends of final guidance".

The bonds were issued via Manjung Island Energy, an special purpose vehicle set up to partially fund the construction of a mew coal-fired power plant in the Malaysian state of Perak. ($1 = 3.129 Ringgit) (Reporting by Kityin Boey from IFR; Writing by Min Hun Fong; Editing by Niluksi Koswanage)

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