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Saturday, May 28, 2011

CIMB, Maybank, Citigroup, and HSBC for Malay US$-sukuk

Irvin Avriano A.

CIMB, Maybank, Citigroup, and HSBC for Malay US$-sukuk

JAKARTA: International Financing Review Asia (IFR Asia) reported government of Malaysia already pick two local bank and two global bank as their sovereign global/US-dollar-denominated sukuk issuance arranger.

The banks namely CIMB, Maybank, Citigroup, and HSBC. The matter was announced on short and limited news published on May 25th.

Yahoo reported, also quoted IFR Asia, the sukuk offering was expected to be completed in June or July. Proceeds from the sale would be used to refinance conventional bonds. Malaysia has US$1.75 bio in 10-year bonds that will be due in July.

Malaysia last tapped the global bond market in May 2010 when it issued $1.25 billion worth of five-year sukuk.

IFR Asia is claimed as Asia’s most authoritative capital markets magazine owned by Thomson Reuters.



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