maybank-launches-first-ever-lower-tier2-sukuk

Maybank launches first ever lower tier-2 sukuk

The first Islamic surbordinated lower tier-2 deal is attracting considerable interest from investors.
Malayan Banking's Maybank debut Reg-S $300 million 10-year non-call-five deal, a breakthrough Islamic subordinated lower tier-2 certificate, is generating very strong interest, with key Asian investors already in the book. Guidance has not been released, but demand has reportedly reached $1 billion.

Maybank's special purpose vehicle, MBB Sukuk Inc, will issue the subordinated trust certificates via bookrunners HSBC, UBS and Aseambankers. The sukuk format will allow Maybank to raise funds in compliance with sharia law, underpinning a strategic initiative to further develop the bankÆs Islamic financing market. The structure will also fund the bankÆs Islamic finance business, representing 10% of its revenue base.

On the investor side, the format has attracted just over...
¬ 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