Issuer: SP Setia
Size: RM1 billion
Structure: Wakala bi al-istithmar
Tenor: Three, five, seven years
Banks: HSBC Amanah, Maybank Investment Bank, RHB Investment Bank (joint lead managers)
Date: June 2023
There are certain corporate blue-chip issuers in any market that will always attract strong demand from investors. In Malaysia, real-estate development company SP Setia is one of those borrowers, regardless of what it is looking to raise on the debt capital markets.
Year after year, the company is one of Malaysia’s most regular and high-profile domestic issuers, and especially most recently in sukuk, a market the developer accessed for the first time in 2021, issuing from its RM3 billion ($620 million) sukuk wakala programme.
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