Sime sukuk sets records, stretches curve with $9bn orders
Malaysian conglomerate Sime Darby drew almost $9bn in orders for its dual-tranche dollar sukuk on Wednesday, smashing records with a low coupon on its five year bond — and becoming the first privately-owned company to push sukuk maturities out to 10 years.
The bookrunners priced a $400m 2.053% January 2018 bond at 130bp over Treasuries, and a $400m 3.209% January 2023 note at 145bp.It was the longest-dated sukuk from a privately-owned corporation anywhere in the world. Saudi Arabias Kingdom Installment did manage to sell a longer-dated deal around seven years ...
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org