28.01.2013 - Sime Darby’s sukuk issue attracts strong order book
The recent announcement of Sime Darby Bhd’s (Sime Darby) successful pricing of its first US$800 million sukuk issue will bode well for the group with positive spillover effects into the group’s order book. “We gather that the sukuk will be issued in two tranches of US$400 million with a five-year tenure and the balance US$400 million with a 10-year tenure respectively,” noted analysts at Kenanga Investment Bank Bhd (Kenanga Research). “This is part of its Multi-Currency Sukuk Programme with a limit of up to US$1.5 billion. “Pricing for the five-year tenure, the sukuk was at 130 basis points (bps) above US Treasuries rate or 2.053 per cent while the 10-year tenure sukuk was at 145bps above US Treasuries rate or 3.290 per cent,” it added...............................................Full Article: Source
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