Tenaga returns to bonds after long lay-off

After more than a decade away from the debt markets, Malaysia's Tenaga returned this week.

Tenaga returns to bonds after long lay-off

Malaysian electricity company Tenaga had been away from the dollar bond market for more than a decade. But this week the company broke its fast, raising $750 million from investors.

When Tenaga last came to the bond market in 2005, US interest rates were on their way up, China’s economy was smaller than the United Kingdom’s, and Donald Trump was a just real estate developer. But the company made its return this week, diversifying its...

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