KUALA LUMPUR (Aug 18): Khazanah Nasional Bhd has completed the redemption of the outstanding US$3.75 million (RM16.77 million) principal amount under entity Cerah Capital Ltd's US$500 million bond scheme, which is exchangeable into CIMB Group Holdings Bhd shares.

"Accordingly, there are no more principal amount of the bonds outstanding as of today (Wednesday, Aug 17)," the Malaysian sovereign wealth fund said.

In a statement to the Singapore Exchange on Wednesday, Khazanah said the US$500 million bond scheme involved zero coupon guaranteed exchangeable bonds due 2024.

"This notice should be read in conjunction with the conditions set out in the offering circular dated 5 August 2019 relating to the bonds and the announcements dated 15 July 2022," said Khazanah, which is the guarantor for Cerah's US$500 million bond scheme.

At Bursa Malaysia on Thursday (Aug 18), CIMB's share price rose three sen or 0.55% at 2:38pm to RM5.48.

CIMB shares were traded at between RM5.43 and RM5.49 so far on Thursday.