The Asset Update

Sime Darby locks in cheap funding with sukuk offering

24 Jan 2013 by Chito Santiago

Malaysian conglomerate Sime Darby made a successful debut in the US dollar bond market, pricing on January 22 a dual-tranche sukuk issue totaling US$800 million. It is the first Malaysian issuer and the first sukuk issuer globally to launch in the international US dollar debt capital markets in 2013. The transaction did not disappoint as it generated a robust investor demand as it offered a welcome diversification from the slew of conventional bond deals that are flooding the market since the start of the year....

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