TNB lights up Malaysia's dark market

By Morgan Davis
24 Oct 2018

Malaysia’s Tenaga Nasional Berhad (TNB) raised $750m from a Wakala sukuk sale on Tuesday, navigating market worries by using a targeted approach for its deal.

Market weakness and investor wariness have been consistent themes in recent weeks.

When TNB began approaching buyers on October 17, trade war threats, fears over Italy and other global worries had dampened investors’ spirits. But the electricity company had a game plan. It focussed its efforts on a ...

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