RHB Islamic has had an impressive first year in operation. Its most prominent transaction was the Shariah-compliant Mukah power plant project finance deal that RHB lead managed for Sarawak Enterprise Corporation.
The deal, a first of its kind in Malaysia, was used to finance a greenfield power plant project. Under the financing structure, two bonds were issued: the first was a M$950 million ($270 million) sukuk mudarabah and the second was a M$125 million sukuk musyarakah.
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