The financier of a subway in Malaysia’s capital is seeking to tap the Islamic bond market for the second time this year after domestic borrowing costs fell to a three-year low.
DanaInfra Nasional Bhd. plans to offer 2 billion ringgit ($482 million) of government-guaranteed Islamic bonds this week after selling 4.5 billion ringgit of sukuk in April, people familiar with the matter said. The proceeds will be used to help finance construction of the nation’s mass rail transit system, part of Prime Minister Najib Razak’s $444 billion development program. The company sold 10-year Shariah-compliant notes to yield 4.29 percent in April and the debt yielded 4.09 percent when it last traded on Aug. 25, data compiled by Bloomberg show.
