khazanah-opens-the-books-for-exchangeable-sukuk

Khazanah opens the books for exchangeable sukuk

The $600 million bond issue has a similar structure to Khazanah's first exchangeable sukuk, but will pay a higher coupon and be exchangeable into PLUS Expressways.
Malaysia's Khazanah Nasional Bhd yesterday opened the bookbuilding for its and AsiaÆs second exchangeable Islamic bond and immediately met with massive demand that left the $600 million issue multiple times covered within hours, sources say.

This early demand is primarily coming from conventional investors, though, as Islamic investors typically need more time to make investment decisions. However, Khazanah, together with joint bookrunners CIMB, Deutsche Bank and JPMorgan, have spent the past four days travelling around the Middle East on a targeted roadshow to educate Middle Eastern investors about this particular issue and Islamic exchangeables in general with the aim of lifting their participation in the deal compared to KhazanahÆs first such issue in...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222