Sabana offers no premium for Singapore dollar sukuk

Singaporean real estate invest trust Sabana Reit sold a S$100m ($78m) sukuk al-wakala bel-istithmar on Wednesday. Investors required no concession for the sukuk structure relative to a conventional deal, and any borrowers willing to step into the sukuk market in Singapore dollars or renminbi would be unlikely to pay a premium, said a banker on the deal.