YTL Power launches convertible

The Malaysian IPP (Independent Power Producer) has launched a $125 million convertible.

After a slight additional wait because of delays getting final regulatory approval, YTL Power's convertible bond appeared in the market yesterday Tuesday via lead managers Credit Suisse First Boston and Deutsche Bank. The five-year deal has a premium redemption structure and offers investors a rare opportunity to purchase Malaysian equity in the primary markets.

So far this year, the Federation has yielded just one other equity offering from and last year only two deals, from and Malaysian...

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