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Malaysia : Malaysia Airlines raises funds with $1b bond
Publish Date : 13-Jun-2012
Malaysia Airlines said on Tuesday its 2.5 billion ringgit (S$1.0 billion) Islamic bond has been fully sold, allowing it to tap a new source of funds as it tries to recover from losses.
Chief Executive Ahmad Jauhari Yahya said Retirement Fund, which is a Malaysian state pension fund, has bought 1 billion ringgit of the bonds.
He said the airline has commitments for the remaining 1.5 billion ringgit from local financial institutions, which it expects to drawdown later this year.
He declined to name the institutions but said it reflected confidence in the carrier as the 10-year bonds are not guaranteed by the government.
