Malaysia's Malakoff Power to issue $1.7 bln in Islamic bonds
KUALA LUMPUR Dec 11 (Reuters) - Malaysia's Malakoff Power Bhd will raise up to 5.4 billion ringgit ($1.68 billion) through Islamic bonds to pay off an existing bond, the company said in a central bank filing on Wednesday.
Malakoff Power Bhd is a wholly-owned unit of Malakoff Corp Bhd, the country's largest independent power producer. Malakoff Bhd, controlled by tycoon Syed Mokhtar Al-Bukhary, is expected to launch an initial public offering to raise over $1 billion in the first half of 2014.
CIMB Group Holdings Bhd and Maybank Investment Bank Bhd are principle advisers for the bond. ($1 = 3.2080 Malaysian ringgit) (Reporting By Al-Zaquan Amer Hamzah; Editing by Miral Fahmy)