KUALA LUMPUR Oct 18 Malaysian state investor
Khazanah Nasional Bhd said on Friday it has issued
S$600 million ($482.14 million) in Singapore dollar-denominated
Islamic bonds, or sukuk, that can be exchanged for shares in IHH
The issuance, which can be exchanged into IHH shares at a
premium of 10 to 17 percent over the reference share price of
4.19 ringgit ($1.33), as Khazanah diversifies on its
"The Singapore dollar-denominated exchangeable Sukuk also
provides a natural currency hedge for Khazanah towards its
Singapore related investments," Khazanah said in a statement.
The Islamic bond or sukuk was priced at the tightest end of
the price guidance of -0.25 percent yield to maturity and 17
percent exchange premium, according to Khazanah.
Reuters reported on Thurday that Khazanah had offered the
Islamic bond to investors, citing a term sheet.
CIMB, Deutsche Bank and Standard Chartered are the
bookrunners for the deal.
($1 = 3.1495 Malaysian ringgit)
(Reporting By Yantoultra Ngui; Editing by Niluksi Koswanage)