| Malaysia sovereign fund 1Malaysia Development Bhd (1MDB) will raise RM8.4 billion (US$2.56 billion) with Islamic bonds to build a power plant. 1MDB, which is chaired by Prime Minister Najib Razak, is partners with Mitsui & Co Ltd on the 2,000 megawatt coal-fired plant, known as Project 3B.
The consortium will rely on Islamic bonds to cover most of the RM11 billion needed for the project, after plans to raise RM8.4 billion via a debt programme led by Japan Bank for International Cooperation fell through, IFR said. AmInvestment Bank is the sole lead manager on the sukuk, which has been set to close by November, it added..............................................Full Article: Source
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