KUALA LUMPUR: Independent power producer Edra Power Holdings Bhd has hired three domestic banks to raise RM5.28bil through a sukuk programme, two sources familiar with the deal said. The wholly-owned unit of China General Nuclear Power Corp hired CIMB Investment Bank as the sole principal adviser and financial adviser, while Maybank Investment Bank and RHB Investment Bank are joint lead managers for the debt programme. Roadshows for the sukuk are under way, and the company planned to launch it before the year-end, a source said. According to IFR, a Thomson Reuters publication that reported the deal earlier, Edra met with investors in Kuala Lumpur yesterday. A source close to the deal said Edra’s plans to raise funds via an IPO remained intact, despite the huge debt issuance.

Source: The Star November 10, 2017 00:00 UTC