Islamic investors pile into sukuk debutants

Sukuk
By Dan Alderson
13 Feb 2014

The international sukuk drought is over — and how. Dubai Investments Park and the Export Import Bank of Malaysia secured tightly priced debuts this week amid a deluge of demand that spoke volumes about investors’ need for more Islamic issuance and a greater diversity of borrowers.

DIP and Export Import Bank of Malaysia (Mexim — see separate EuroWeek Asia article) drew order books that were more than 10 times oversubscribed and managed to tighten their five year sukuk sharply from guidance.

But at just $300m each, the deals were well short of benchmark ...

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