Dateline 2013-03-29, Borneo Post Online:
Malaysia’s Petronas Gas Bhd (Petronas Gas) is considering setting up a RM5 billion (US$1.6 billion) Islamic bond programme to part finance the construction of regasification plants, three people familiar with the deal said.
The gas distribution arm of state oil company Petroliam Nasional Bhd (Petronas) invited proposals from investment banks to arrange the debt sale, said the people, who asked not to be named as the details were private.
A sale would be the Kuala Lumpur-based company’s second offering of sukuk, or debt that paid returns on assets to comply with Islam’s ban on interest.
It sold RM860 million of syariah-compliant notes in August via unit Kimanis Power Sdn Bhd to part finance a power plant, with maturities ranging from 2016 to 2028.
The 5.05 per cent notes due in 2023 yielded 4.23 per cent on Wednesday, according to data compiled by Bloomberg.
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Wata - Malaysian Oil and Gas Engineer 