LRT, MRT owner-operator Prasarana issues RM1.45b bonds

Malaysian government-owned Prasarana Malaysia Bhd issued on Friday (March 4) a combined RM1.45 billion worth of Islamic bonds or Sukuk across five tranches which offer investors annual profit rates of between 3.93% and 4.65%, according to updates on the Bond and Sukuk Information Exchange's (BIX) website. The Malaysian government-guaranteed Islamic medium-term notes (IMTNs) have tenures of between 9 and 25 years, according to the BIX. The purpose of the bond issuance was, however, not specified. Prasarana's website stated that the company is the owner-operator of rail services in Malaysia, including LRT networks, the KL Monorail and MRT lines.