Khazanah times its $321m exchangeable to perfection

Malaysia’s sovereign fund sells $321 million of sukuk exchangeable into Hong Kong-listed Citic Securities amid a strong run in the underlying stock.

Khazanah times its $321m exchangeable to perfection

Malaysian state investment fund Khazanah Nasional took advantage of Hong Kong’s red-hot stock market to issue $320.8 million worth of sukuk exchangeable into Citic Securities’ H-shares, extending its recent practice of issuing Islamic exchangeable securities almost every year.

Khazanah has become the only source of equity-linked sukuk since 2010 when the last corporate issuer, YTL Corporation, issued a $350 million convertible note. As it stands, there is now no outstanding equity-linked sukuk in the...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Print Edition

FinanceAsia Print Edition