Malaysia's YTL to sell $300 million of 5-year, 0% convertible bonds

By Kenneth Lim

Boston, May 17 - Malaysia's YTL Corp. Bhd. plans to sell $300 million of five-year zero-coupon exchangeable bonds.

The bonds will be issued through a Cayman Islands-incorporated special-purpose vehicle that is wholly owned by YTL, which will guarantee the bonds.

The initial conversion price will be determined based on a reference price that has not been fixed. JP Morgan Securities is the bookrunner of the deal, which is being offered outside the United States under Regulation S.

YTL plans to list the bonds in Singapore.

YTL is a Kuala Lumpur-based infrastructure conglomerate. The proceeds from the deal will be used to fund future investments and projects.

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