Tenaga returns to bonds after long lay-off

After more than a decade away from the debt markets, Malaysia's Tenaga returned this week.

Malaysian electricity company Tenaga had been away from the dollar bond market for more than a decade. But this week the company broke its fast, raising $750 million from investors.

When Tenaga last came to the bond market in 2005, US interest rates were on their way up, China’s economy was smaller than the United Kingdom’s, and Donald Trump was a just real estate developer. But the company made its return this week, diversifying its funding sources by turning to a mix of European, Asian and Middle Eastern investors.

The bookrunners were left scratching around when it came to pricing comparables. Malaysian corporations tend to meet their...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222