October 18, 2013 | Cbonds
|Khazanah Nasional Bhd has announced the completion of benchmark exchangeable sukuk offering of S$600mil (RM1.524bil) via Sabah-based company, Indah Capital Ltd.|
The sukuk, upsized from the initial S$500mil (RM1.27bil), is exchangeable into ordinary shares of IHH Healthcare Bhd (IHH), one of the largest healthcare providers in the world by market capitalisation.
Khazanah managing director Tan Sri Azman Mokhtar said for the first half of 2013, IHH's Singapore operations contributed about 35% and 30% of IHH Group's revenue and earnings before interest, taxes, depreciation and amortisation, respectively, in Singapore dollar, providing a natural currency link to the Sukuk's underlying stock.
Upon the exercise of the exchange rights under the sukuk, the holders will initially be entitled to receive an aggregate of 311.4 million ordinary shares of IHH, subject to adjustments pursuant to the terms and conditions of the sukuk.
|Status||Country of risk||Maturity (option)||Amount||Issue ratings (M/S&P/F)|
Company: Khazanah Nasional
|Full company name||Khazanah Nasional Berhad|
|Country of risk||Malaysia|
|Country of registration||Malaysia|