16.06.2014 - Khazanah raises more questions for Malaysia
Can anybody please explain to me quite why the country’s flagship sovereign wealth fund Khazanah Nasional pulled a US$500m exchangeable sukuk transaction the week before last, when the deal looked as tickety-boo in execution as any equity-linked deal you’re likely to cast eyes on? The book was covered, and more than 50 top end investors had circled orders, but apparently Khazanah’s treasurers found their inability to print at the finest of margins irksome and so they pulled the trade. They missed the chance to bring a deal in decent size in a market where global equity indices were printing record highs and at spreads that might not be revisited for a while...............................................Full Article: Source
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