Name of borrower: Johor Corporation
Amount: RM1.5 billion
Tenor: Seven, 10, 15 years
Underwriter: Maybank Islamic, AmInvestment Bank
Date: July 6, 2023
Johor Corporation‘s RM1.5 billion ($310 million) inaugural guaranteed sukuk is the best sukuk deal in Malaysia.
The transaction is the first state-guaranteed sukuk programme in Malaysia. It is guaranteed by the Johor Stated Government and structured according to the shariah principle of wakala bi al-istithmar.
The deal attracted 47 investors, including asset-management companies, insurance firms, government agencies and foreign investors.
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