Tenaga prices CB

Lead managers JPMorgan and CIMB priced an increased $350 million convertible for the Malaysian electricity utility at London's close yesterday (Tuesday) following a one-day bookbuild. Lehman Brothers had also originally been mandated as joint bookrunner on the five-year deal, but was removed at the eleventh hour after the company decided to proceed with just one international bank. Co-managers were Dresdner and HSBC.