A consortium comprising Tenaga Nasional, Sarawak Energy Bhd and Ministry of Finance plans to issue RM10 billion bonds to finance Bakun transmission cable project.
The bonds would be raised on staggered basis over a period of eight years starting from it first issuance, likely to be in 2010.
According to Reuters, CIMB is the lead arranger of the bond that will be locally issued with repayment period of between 20 to 25 years.
The transmission cable capable of transmitting 1,600-megawatt of the 2,400-megawatt Bakun hydroelectric dam power and was part of the massive Bakun Hydroelectric project.
The cable project involves laying a 730-kilometre high-voltage direct current (HVDC) transmission line and a 670-km undersea cable.
The transmission cable project expected to be completed by 2015.