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Advisers: HSBC, Citi, CIMB, Maybank
Malaysia has always been a hub for Islamic finance innovation, and continues to be so. Many deals that came out of the country over the last year took the industry forward: Meximbank’s first dollar sukuk for an Eximbank; the Malaysian arm of Bank of Tokyo-Mitsubishi UFJ’s multicurrency programme that included the first yen sukuk in the global markets; AmIslamic’s groundbreaking bank capital issue; yet another innovative exchangeable from Khazanah – its sixth.
The one we highlight here was a RM1 billion sukuk from Malaysia Airports Holdings, the world’s first rated corporate perpetual sukuk.
The rating part of it was important because Malaysia Airports is among the highest rated issuers in the country and wanted to maintain the benefit of that rating in the pricing.
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