Sime Darby Bhd’s maiden US dollar-sukuk issuance for a total of US$800mil (RM2.4bil) has been oversubscribed by 10 times, reflecting the conglomerate’s strong order book of more than US$8bil held via 376 orders from high-quality investors.
“This issuance is considered highly successful, notwithstanding the heavy supply in the primary US dollar bond market,” said the company. To be issued in two tranches, the company has priced the US$400mil (RM1.2bil) five-year sukuk issue at a fixed coupon rate of 2.053% and the US$400mil 10-year sukuk issue at a fixed coupon rate of 3.29%………………………………………..Full Article: Source