PLUS Expressways Bhd, the country's biggest toll road operator, plans to sell about RM600 million of Islamic bonds, known as sukuk, to repay maturing debt, reports Bloomberg (May 19, 2009).
CIMB Investment Bank Bhd is helping the company sell Musharakah sukuk in an offer that may close as soon as today, PLUS corporate affairs general manager How Seet Ming told the newswire. The money may be used to repay a RM550 million of senior sukuk due this month, she said. PLUS has another RM558 million of bonds maturing in 2010 and another RM1.36 billion in 2011, according to Bloomberg data.
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