July 24, 2014 / 4:10 AM / 6 years ago

REFILE-Malaysia's DanaInfra sells $789 mln in sukuk for rail project -IFR

(Adds AmInvestment to list of lead managers)

KUALA LUMPUR, July 24 (Reuters) - DanaInfra Nasional Bhd, a company created by Malaysia’s finance ministry to raise funds for the country’s most extensive infrastructure project, has raised 2.5 billion ringgit ($789.14 million) by selling three Islamic bonds, reported IFR.

The sale comprised a 1.6 billion ringgit sukuk, 300 million ringgit sukuk and 400 million ringgit sukuk with tenors of seven to 20 years, reported IFR, a Thomson Reuters publication.

CIMB, AmInvestment, Maybank, RHB Capital and Standard Chartered Saadiq jointly lead-managed the sale, IFR reported on Thursday.

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 8 billion ringgit by selling sukuk.

$1 = 3.1680 Malaysian Ringgit Reporting by Al-Zaquan Amer Hamzah; Editing by Christopher Cushing

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