KUALA LUMPUR, April 30 Khazanah Nasional Bhd
, a Malaysian state investor, is planning a new
exchangeable Islamic bond or sukuk, IFR reported on Wednesday,
citing people with knowledge of the deal.
The deal could be worth up to $1 billion, a source told
Reuters on Wednesday. IFR reported that Khazanah suggested the
sukuk to be exchangeable into one of its three underlying
The companies are Malaysia's largest mobile phone operator
by market value, Axiata Group Bhd, the country's
biggest fixed line operator, Telekom Malaysia, and
largest electricity utility Tenaga Nasional, IFR
"They are still choosing the banks," the source said,
declining to be named as the deal was still private.
Khazanah was not immediately available to comment on the
The deal comes six months after the sovereign wealth fund
did a S$600 million zero-coupon sukuk yielding negative 0.25
percent and exchangeable into shares of IHH Healthcare
, Asia's largest hospitals operator, at a premium of 17
CIMB, Deutsche Bank and Standard Chartered were the
bookrunners for the previous deal.
(Reporting by Daniel Stanton of IFR and Yantoultra Ngui;
Editing by Anand Basu)