By Rebecca Melvin
New York, Oct. 18 - Khazanah Nasional Bhd., a state-owned investment holding company, announced the pricing of an upsized S$600 million five-year notes exchangeable into shares of IHH Healthcare Bhd. at a yield of minus 0.25% with an initial conversion premium of 17%, according to a news release.
The deal, made via a special purpose company, Indah Capital Ltd., was upsized from an initially talked S$500 million and priced at the tight end of guidance.
IHH is a health care services provider in the Middle East and Asia.
CIMB Bank Bhd., Deutsche Bank AG and Standard Chartered Bank were joint bookrunners for the exchangeable Sukuk transaction.
The bonds are putable at the end of year three. Upon the exercise of the exchange rights under the Sukuk, its holders will initially be entitled to receive an aggregate of 311.4 million ordinary shares of IHH.
Khazanah is a government of Malaysia investment holding company involved in power, telecommunications, banking and real estate.
| Issuer: | Indah Capital Ltd. (Khazanah Nasional Bhd.)
|
| Issue: | Exchangeable sukuk
|
| Underlying stock: | IHH Healthcare Bhd.
|
| Amount: | S$600 million, upsized from S$500 million
|
| Maturity: | 2018
|
| Bookrunners: | CIMB Bank Bhd., Deutsche Bank AG, Standard Chartered
|
| Yield: | Minus 0.25%
|
| Initial exchange premium: | 17%
|
| Put: | In year three
|
| Pricing date: | Oct. 17
|
| Stock reference: | RM 4.19, close as of Oct. 17
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