By Rebecca Melvin
New York, Sept. 4 – Khazanah Nasional Bhd., a state-owned investment holding company, announced the pricing of S$500 million seven-year notes exchangeable into shares of Tenaga Nasional Bhd., Malaysia’s largest electricity company, at a yield of minus 0.05% with an initial conversion premium of 15%, according to a news release.
The deal was made via a special purpose company, Cahaya Capital Ltd.
CIMB Bank Bhd., Deutsche Bank AG and Standard Chartered Bank were joint bookrunners for the exchangeable sukuk transaction.
The bonds are putable at the end of year four.
Khazanah is a government of Malaysia investment holding company involved in power, telecommunications, banking and real estate.
| Issuer: | Cahaya Capital Ltd. (Khazanah Nasional Bhd.)
|
| Issue: | Exchangeable sukuk
|
| Underlying stock: | Tenaga Nasional Bhd.
|
| Amount: | S$500 million
|
| Maturity: | 2021
|
| Bookrunners: | CIMB Bank Bhd., Deutsche Bank AG, Standard Chartered Bank
|
| Yield: | Minus 0.05%
|
| Initial exchange premium: 15%
|
| Put: | In year four
|
| Pricing date: | Sept. 4
|
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