Clifford Chance has advised Malakoff Corp. Bhd. on the raising of $2.1 billion in financing to develop a coal-fired power plant in Malaysia.

Kuala Lumpur-based Malakoff already owns six power stations and is Malaysia’s largest power producer by generating capacity. The financing includes the issue of $1.1 billion in senior secured sukuk, or Islamic bonds, with the rest in bank loans.

The new power plant will take four years to construct. It will supply power to Malaysia’s main electrical utility Tenaga Nasional Bhd. under a 25-year contract.

Clifford Chance‘s team was led by Singapore partner Ting Ting Tan.

The lenders–Sumitomi Mitsui Banking Corp., HSBC Holdings PLC, OCBC Bank, Mizuho Bank Ltd., and The Bank of Tokyo-Mitsubishi UFJ Ltd.–were advised by Albar & Partners. The project sponsor–Malakoff subsidiary Tanjung Bin Energy Sdn. Bhd.–was advised by Kuala Lumpur-based firms Shearn Delamore & Co., which fielded a team led by partner Tee Joe Lei, and Kamilah & Chong.