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Tenaga to Sell $1.7 Billion 20-Year Islamic Bond, CEO Says (1)

04/07/2011 05:23:08 AM GMT   Comments ()     Add a comment   Print     E-mail to friend

Tenaga Nasional CEO Che Khalib Mohamad Noh

Che Khalib Mohamad Noh, chief executive officer of Tenaga Nasional Bhd. Photographer: Goh Seng Chong/Bloomberg

Tenaga Nasional Bhd., Malaysia’s biggest power producer, plans to raise as much as 5 billion ringgit ($1.7 billion) from a 20-year ringgit-denominated Islamic bond offering, its chief executive officer said today.

“We plan to sell the bonds in August or September,” Che Khalib Mohamad Noh said in an interview. Proceeds from the offering, the company’s first debt sale since 2004, will be used to finance a coal-fired Manjung power plant in the northern state of Perak, Che Khalib said.


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Source: AJP

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