Axiata leads sukuk charge from Malaysia

Telecom operator completes the first of what is expected to be a series of offerings from government-linked companies over the next two months.
Flying a kite for Malaysian sukuks
Flying a kite for Malaysian sukuks

Malaysian telecom operator Axiata Group Berhad executed a $500 million sukuk bond on Tuesday, catching a market window ahead of a string of other prospective deals from Malaysian government-linked entities. 

Axiata was able to build up a peak order book of $1.4 billion for its Baa2BBB rated deal, a relatively warm reception that is likely to hearten the rest of the pipeline.

By contrast, its ultimate parent, Khazanah Nasional Berhad, managed to scrape together just $850 million for its own $750 million deal three weeks ago

Khazanah did not provide an auspicious backdrop for Axiata since its...

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