RM10b bonds to fund cable project

PETALING JAYA: Tenaga Nasional Bhd (TNB) and other members of the consortium responsible for the Bakun transmission cable project are likely to raise RM10bil worth of bonds on a staggered basis to fund the eight-year job.

StarBiz has learnt that the first issuance would commence early next year and the consortium was in discussion with the Government for a potentially higher credit wrap to ensure better investor appeal.