Khazanah exchangeable bond raises S$600m

The sharia-compliant bonds are exchangeable into IHH shares and priced with a negative yield following strong demand from conventional investors.

Khazanah exchangeable bond raises S$600m

About six months after it was mandated, Malaysian investment company Khazanah Nasional finally hit the market with its fifth exchangeable Islamic bond on Thursday. The deal was slightly smaller than initially talked about, but proved a huge success with investors, confirming once again the huge investor appetite for deals backed by strong credits.

The zero-coupon bond, which is exchangeable into Malaysia-listed shares of IHH Healthcare, has a five-year maturity and can be put back to...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition