Malaysia's state electricity utility, Tenaga Nasional Bhd, aims to raise 2 billion ringgit ($466.7 million) via an auction of Islamic bonds, or sukuk, to be issued on Thursday, according to a regulatory filing.
The issuance by Tenaga, in which state investor Khazanah is the biggest shareholder, comprises a 500 million ringgit 15-year tranche and a 1.5 billion ringgit 20-year tranche, with periodic distribution rates of 4.95 percent and 5.18 percent respectively.
The sukuk programme, set up in July, is based on an agency-based contract known as wakala and is rated 'AAA' by credit agency RAM ratings.
http://www.salaamgateway.com/en/story/malaysias_tenaga_to_raise_2_bln_ringgit_via_sukuk_this_week-salaam02082017081033/
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