Khazanah Said to Weigh $500 Million Exchangeable Sukuk Sale
- Malaysian sovereign fund choosing banks for planned sale
- Proposal part of company’s move to cut stakes in listed firms
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Khazanah Nasional Bhd., the Malaysian sovereign fund, is considering selling as much as $500 million of exchangeable Islamic bonds, people with knowledge of the matter said.
The state-owned firm, which in 2006 became the first in the Shariah-compliant industry to sell such debt, is currently choosing banks for the potential offering, according to the people. The notes would be exchangeable into shares of companies controlled by Khazanah, the people said, asking not to be identified because the process is private.