| Encorp Bhd, a Malaysian builder of teacher’s housing, is planning to sell as much as RM1.58 billion (US$516 million) of Islamic bonds to restructure its debt, two people with knowledge of the deal said.
The Selangor-based company will be issuing the sukuk, or debt that pays returns from assets to comply with Islam’s ban on interest, in several portions of as long as 16 years, said one of the people, who declined to be named as the information is private. It plans to sell the securities early next month via its Encorp Systembilt Sdn Bhd unit, the person said...............................................Full Article: Source
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