MUAR (April 23): Malaysia s Sustainability Sukuk issuance which was oversubscribed by 6.4 times yesterday reflected the international community’s confidence in the country’s ability to recover economically in spite of the Covid-19 pandemic, said Prime Minister Tan Sri Muhyiddin Yassin.
Not only that, he said, the World Bank had earlier projected that the Malaysian economy would grow by six per cent this year while the Government had projected a gross domestic product (GDP) growth of between six and 7.5 per cent.
“When we opened the sukuk, the international bonds issued by Malaysia yesterday, originally (the issuance size) was US$1 billion; we upsized it to US$1.3 billion because of overwhelming subscription.
The issuance is not only a global first on many fronts, but also a strong recognition of Malaysia’s Islamic finance industry’s innovative capabilities in structuring sukuk to help advance Malaysia’s SDG-focused policies towards achieving our Shared Prosperity Vision 2030, said Finance Minister Tengku Zafrul Aziz. KUALA LUMPUR: There was overwhelming interest for Malaysia s US$800mil 10-year and US$500mil 30-year sovereign US dollar sustainability sukuk, which was oversubscribed by 6.4 times, said the Finance Ministry (MoF) in a statement today.
Both tranches have been assigned a rating of A3 by Moody s Investors Service and A- by S&P Global Ratings.
Malaysia s US dollar sukuk oversubscribed - Zafrul
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The government has successfully priced the world’s first sovereign US Dollar Sustainability Sukuk, via the issuance of US$800 million (RM3.3 billion) 10-year trust certificates and also issued US$500 million 30-year trust certificates with the allocation well spread globally from Asia to the United States.
Investors’ confidence was clearly reflected in the offering being oversubscribed by 6.4 times.
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Nasdaq Dubai welcomes listing of $2.5bn IsDB sukuk
DUBAI, 5 hours, 26 minutes ago Nasdaq Dubai has welcomed the listing of a $2.5 billion Sustainability Sukuk by Islamic Development Bank (IsDB), the multilateral lender which finances development across its 57 member countries. This is the second AAA-rated Sukuk issuance under the Sustainable Finance Framework of IsDB and is the bank’s biggest US dollar public issuance to date, reported Emirates news agency
WAM. The 5-year $2.5 billion Trust Certificates were priced at par with a profit rate of 1.262 percent, payable on a semi-annual basis. Proceeds of the Sukuk will be allocated to finance and refinance green and social development projects that are eligible under IsDB Sustainable Finance Framework.
Nasdaq Dubai welcomes listing of $2.5b Sustainability Sukuk by IsDB
Wam/Dubai Filed on April 5, 2021
The first of IsDB’s current Sukuk listings on Nasdaq Dubai was a $1 billion instrument that listed in 2015. Wam
Proceeds of the Sukuk will be allocated to finance and refinance green and social development projects that are eligible under IsDB Sustainable Finance Framework.
Nasdaq Dubai welcomed the listing of a US$2.5 billion Sustainability Sukuk by Islamic Development Bank (IsDB), the multilateral lender which finances development across its 57 member countries.
This is the second AAA-rated Sukuk issuance under the Sustainable Finance Framework of IsDB and is the bank’s biggest US dollar public issuance to date. The 5-year $2.5 billion Trust Certificates were priced at par with a profit rate of 1.262 percent, payable on a semi-annual basis.