Malaysia to launch the world's first Islamic global bond

HSBC will lead manage a roughly $400 million to $500 million 144a issue for the sovereign as it attempts to diversify its investor base and deepen the market for Islamic products.

Roadshows for the pioneering issue are provisionally scheduled to begin in Hong Kong on Friday before moving to Europe and the Middle East next week, then back to Asia for pricing the middle of the week beginning June 24.

During 2001, about 60% of debt raised in Malaysia's domestic bond market was Shariah-compliant and the sovereign is said to view the forthcoming issue as a next logical step in its bid to develop a wider market for Islamic debt. However, the deal has also been structured to appeal to the sovereign's traditional investor base as well and should the issue size start to approach the $500 million mark, it will be included in most of...

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