Investors vie for piece of rare Sime Darby sukuk

Sime Darby locks in record low coupons for a rare US dollar sukuk from Malaysia.

Investors vie for piece of rare Sime Darby sukuk

Malaysian plantation company Sime Darby on Tuesday offered investors the chance to take part in a rare dollar sukuk from Malaysia. It tapped investors with an $800 million dual-tranche bond, which attracted a blowout order book of $8.7 billion.

Aside from Petronas, there have been few dollar sukuks from Malaysian companies. Thanks to its scarcity value, the company was able to lock in cheap funding.

The coupons for the five- and 10-year...

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