Connect with us

Hi, what are you looking for?

World

Malaysia issues world’s first sovereign US dollar sustainability sukuk worth $800 mln

Malaysia has issued $800 million worth of 10-year trust certificates, billed as the world’s first sovereign U.S. dollar sustainability sukuk as the proceeds will be used exclusively for green projects, the finance ministry said on Thursday.

In addition, the Southeast Asian nation also issued $500 million 30-year trust certificates, the ministry said in a statement.

Malaysia, which has the largest sukuk market globally, upsized the offering from an initial target size of $1.0 billion to $1.3 billion due to demand as over-subscription hit 6.4 times.

“The strong demand has also resulted in the lowest ever yield and spread for a U.S.-dollar sukuk issuance by Malaysia,” the ministry said, with the 10-year and 30-year trust certificates priced at 2.070% and 3.075% respectively.

Proceeds from the sukuk will be used for eligible social and green projects aligned to the United Nation’s Sustainable Development Goals Agenda, enabling the country to meet its commitments as a signatory to the Paris Agreement.

Next articles

UAE agritech startup raises $50 mln via sukuk to grow tomatoes in the desert

Saudi mall operator Arabian Centres sells $650 mln in sukuk, as group plans expansion

Bahrain’s NOGA eyes upsizing sukuk deal to $600 mln, tightens guidance

 

 

You May Also Like

World

Sitting by herself at the funeral of Prince Philip on Saturday, Queen Elizabeth cut a regal, but solitary figure: still the monarch, but now...

World

Germany’s vaccine commission, known as STIKO, recommended on Thursday that people under 60-years old who have had a first shot of AstraZeneca’s COVID-19 vaccine...

Energy

United Arab Emirates power producer Abu Dhabi National Energy Co. (TAQA) announced on Wednesday plans to increase its renewable energyassets, in a shift away...

World

Activists opposed to Myanmar’s junta called on Monday for people to stop paying electricity bills and agricultural loans, and keep their children away from...

Advertisement

error: