09.06.2014 - Dream issue fizzles for Khazanah
Hard-to-please Malaysian sovereign wealth fund Khazanah Nasional pulled its US$500m exchangeable sukuk last Wednesday, even though the book was covered within the range and highly aggressive terms were available. In a message to investors, Khazanah said the book was well oversubscribed within two hours of launch, with orders from more than 50 high-quality investors, but said price sensitivity prevented it from achieving its pricing objectives. The deal had traded below par in the grey market, indicating subdued demand...............................................Full Article: Source
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