| Malaysia’s sovereign wealth fund sold Islamic bonds for the second time in three weeks as it moved ahead with a buyout of the national airline. Khazanah Nasional Bhd. today issued $500 million of seven- year sukuk that are convertible into equities of state power company Tenaga Nasional Bhd., according to a company statement. The notes were priced to yield minus 0.05 percent and can be swapped into the utility’s shares at a 15 percent premium after the fourth year, the fund said.
Khazanah is in the process of purchasing the 30.6 percent stake in Malaysian Airline System Bhd. that it doesn’t already own and will then delist the carrier from the stock exchange. The fund announced last week a 6 billion-ringgit ($1.9 billion) plan to revive the airline...............................................Full Article: Source
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