Taliworks to raise US$247 million in Islamic bonds

The country's securities commission approved the bond issue by Cerah Sama, which owns and operates the concession for a 11-kilometre highway in the country's capital.

"Proceeds will be utilised to refinance existing medium-term notes, finance investments, working capital requirements and general corporate purposes," Taliworks said.

Maybank Investment Bank Bhd is the principle adviser, lead arranger, lead manager, security and facility agent for the programme. — Reuters