Friday October 14, 2011
Yuan-denominated sukuk by Khazanah
PETALING JAYA: Khazanah Nasional Bhd has issued its first offshore yuan-denominated sukuk of 500 million yuan (RM246mil) via Danga Capital Bhd, a Malaysian-incorporated special purpose vehicle.
The three-year benchmark sukuk was priced through a book-building process on Oct 13 and at the tightest end of the price guidance at 2.90%, the company said in a statement.
The transaction drew a demand of 3.6 times book size, enabling Khazanah to upsize the deal to 500 million yuan from an earlier announced 300 million yuan.
Khazanah said its investors comprised financial institutions, asset management companies, private banks and statutory bodies from Malaysia, Singapore, Hong Kong, the Middle East and Europe.
Issued under the Malaysia International Islamic Financial Centre initiative, it is the world’s first Emas Sukuk denominated in yuan. The sukuk will be listed on Bursa Malaysia (Exempt Regime) and Labuan International Financial Exchange.
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