Tenaga powers up sukuk with $750m debut

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By Addison Gong
13 Oct 2016

Malaysia’s Tenaga Nasional sold its first dollar sukuk on Wednesday, attracting $2bn of bids as investors shrugged off concerns around the country. While participants said that that the sukuk market has always been open for borrowers, they are hoping that the power company’s deal will fuel more issuance. Addison Gong reports.

Tenaga pulled off a $750m 10 year sukuk this week — the largest corporate dollar issuance from Malaysia this year. In addition, by selling its notes at par and a yield of 3.244%, the company sealed the lowest coupon for a 10 year corporate sukuk from the country, ...

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