Malaysia's Khanazah to raise $500 mln via exchangeable securities of Tenaga-term sheet

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(Sept 3): Malaysian state investor Khazanah Nasional Berhad plans to raise at least $500 million from an exchangeable Islamic bond or sukuk issue that could be converted into shares of Tenaga Nasional, according to a term sheet seen by Reuters.

The deal size could be raised by another $100 million if demand is strong with the maturity for the issue set at seven years, the term sheet showed.

The reference share price is 12.40 Malaysian ringgit and exchange premium is 15 to 20 percent over the reference price, the term sheet said.

CIMB, Deutsche Bank and Standard Chartered are joint bookrunners for the deal.