Khazanah Is Said to Consider $500 Million Exchangeable Bond Sale

Malaysia’s sovereign wealth fund is weighing raising $500 million from an exchangeable dollar bond sale to help fund its overseas investments, according to people with knowledge of the matter.

Khazanah Nasional Bhd. is working with financial advisers on the planned offering, said the people, asking not to be identified as the process is private. The underlying assets for the dollar bonds haven’t yet been decided but could include shares that Khazanah owns in state-owned electricity firm Tenaga Nasional Bhd., Telekom Malaysia Bhd. or CIMB Group Holdings Bhd., the people said.