Malaysia Funds Subway With First Exchange Bonds: Southeast Asia
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Malaysia, Southeast Asia’s biggest local-currency bond market, will let retail investors fund Kuala Lumpur’s new subway as it starts marketing its first exchange-traded notes to individuals.
DanaInfra Nasional Bhd., the state-owned company that’s financing the rail network, is kicking off the offerings and plans to complete the sale of Islamic bonds by Feb. 8, according to a statement today. The notes will pay a minimum profit rate of 3.7 percent, depending on demand and market interest, it said.