YTL Power readies CB

The independent power producer will begin formal pre-marketing of a $150 million convertible next week.

Credit Suisse First Boston and Deutsche Bank are joint lead managers of a five year bullet deal that will mark the first equity-linked offering from Malaysia since June 1997.

Informal soundings in the credit market suggest that the deal will be marketed at about 150bp over Libor on an asset swap basis. At this kind of spread, it will seem aggressive relative to oustandings, but for dollar investors in particular, will represent a welcome diversification from the...

To continue reading, please login or register for free

Click for more on: ytl | power | readies | cb

Print Edition

FinanceAsia Print Edition