DanaInfra sells RM2.5bil sukuk for MRT project

KUALA LUMPUR: Danainfra Nasional Bhd, a company created by Malaysia's finance ministry to raise funds for the country's most extensive infrastructure project, has raised RM2.5bil (US$789.14mil) by selling three Islamic bonds, reported IFR.

The sale comprised a RM1.6bil sukuk, RM300mil sukuk and RM400mil sukuk with tenors of seven to 20 years, reported IFR, a Thomson Reuters publication.

CIMB, Maybank, RHB Capital, and Standard Chartered Saadiq jointly lead-managed the sale, IFR reported on Thursday. AmInvestment Bank is also one of the joint lead arrangers/joint lead managers 

Proceeds of the sale will be spent on extending the capital city's Mass Rapid Transit (MRT) rail network to suburban Kuala Lumpur and the broader Klang Valley, where the government expects the population to reach 10 million by 2020 from the current 6 million.

The finance ministry has authorised DanaInfra to raise a total of RM8bil by selling sukuk. – Reuters