Issuer: MYEG Services Berhad
Size: RM250 million
Structure: Wakalah bi istithmar
Tenor: Three years
Banks: CIMB Islamic Bank and HSBC Amanah (lead arrangers and sustainability structuring advisers)
Date: August 2023
While there were plenty of innovative Islamic financings in Asia last year, there was only one that touched on two of the most important themes and potentially transformative developments in recent years: sustainability and blockchain technology.
Malaysian digital services company MYEG’s RM250 million ($52 million) three-year, 5.4% sukuk in August was not only a sustainable sukuk – supporting the building of accommodation for foreign workers – it was also the first time in the country’s sukuk market that blockchain has been given as use of proceeds.
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