Malaysia sukuk

Malaysia prints $2 billion global sukuk

Greece default worries? Malaysia sweeps them aside with $2 billion global sukuk.
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Photo: AFP</div>
<div style="text-align:right; font-size:7pt; color:rgb(119, 119, 119);"> Photo: AFP</div>

Malaysia priced a $2 billion dual-tranche global sukuk early yesterday morning despite tremendous market volatility.

Most Asian borrowers have been scared away from the dollar markets during the past two weeks, so it took some courage for the sovereign to launch such a large deal its biggest global bond to date.

The team kicked off roadshows last Thursday, covering Kuala Lumpur, Hong Kong, Singapore, Abu Dhabi, Dubai, Riyadh, London and New York, and launched the transaction on Tuesday.

Given the problems elsewhere in the world, investors clamoured for this rare opportunity to buy exposure to Malaysia, which is a strong investment-grade credit rated A3...

¬ Haymarket Media Limited. All rights reserved.

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