No plan for new bonds this year, says TNB

Tenaga Nasional Bhd (TNB) has no plans to issue new bonds this year, but instead will raise RM4.4bil by mid-2004 through the sale of its RM3.6bil Kapar power plant as well as stakes in several independent power producers, said chairman Datuk Dr Awang Adek Hussain. 

Proceeds from the disposals will be used to repay borrowings – loan repayments in the financial year ending Aug 31 total RM1bil – and to meet other funding requirements. TNB's total debt stands at about RM30bil, half of these in foreign currencies.