Mumtalakat keeps plans fluid as it eyes MR3bn ringgit sukuk programme
Bahrain Mumtalakat Holding, the investment arm for Bahrain's non-oil and gas commercial assets, is lining up roadshows in Kuala Lumpur. The sovereign wealth fund is looking to establish a MR3bn ($952.3m) murabaha sukuk programme despite having said only recently that it had no plans to issue new debt. CIMB and Standard Chartered will act as joint leads for the sale.
Mumtalakat is looking to diversify its funding sources, although it is likely the fund will wait until swap rates are more favourable before executing a cross-currency transaction. Malaysias RAM ratings has assigned the proposed programme an AA2 long term rating with a stable outlook.
There have been several
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