Khazanah issues $482 mln Islamic bond exchangeable to IHH shares


KUALA LUMPUR, Oct 18 (Reuters) - Malaysian state investorKhazanah Nasional Bhd said on Friday it has issuedS$600 million ($482.14 million) in Singapore dollar-denominatedIslamic bonds, or sukuk, that can be exchanged for shares in IHHHealthcare Bhd.

The issuance, which can be exchanged into IHH shares at apremium of 10 to 17 percent over the reference share price of4.19 ringgit ($1.33), as Khazanah diversifies on itsfund-raising strategy.

"The Singapore dollar-denominated exchangeable Sukuk alsoprovides a natural currency hedge for Khazanah towards itsSingapore related investments," Khazanah said in a statement.

The Islamic bond or sukuk was priced at the tightest end ofthe price guidance of -0.25 percent yield to maturity and 17percent exchange premium, according to Khazanah.

Reuters reported on Thurday that Khazanah had offered theIslamic bond to investors, citing a term sheet.

CIMB, Deutsche Bank and Standard Chartered are thebookrunners for the deal.($1 = 3.1495 Malaysian ringgit) (Reporting By Yantoultra Ngui; Editing by Niluksi Koswanage)

View Comments (0)