From Bloomberg: Dubai’s proposed sale of as much as $1.5 billion of Islamic bonds in Malaysia won’t appeal to most local funds unless the emirate obtains a rating, Mashreq Capital DIFC Ltd. and Nomura Asset Management Malaysia Sdn Bhd. said.
The government hired CIMB Investment Bank Bhd., a Kuala Lumpur-based unit of CIMB Group Holdings Bhd., the world’s top sukuk arranger this year, as a lead manager to sell between $1 billion and $1.5 billion of the securities, a person with knowledge of the plan said Nov. 24……………………………………….Full Article: Source