Khazanah's sukuk exchangeable is a blowout success
Islamic investors take 50% of the deal, which is upsized to $850 million after being 13 times covered.
Khazanah Nasional drew a massive $7.8 billion worth of demand for its second exchangeable Islamic bond, which allowed it to upsize the offering by 42% to $850 million and fix all the terms at the tight end of the marketed ranges.
At that size, this is the largest exchangeable ever out of Malaysia surpassing KhazanahÆs own $750 million Islamic exchangeable into Telekom Malaysia shares completed in September last year.
Aside from the coupon û or periodic payments as it is...
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