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Redmoney Consulting

MAHB issues world’s first rated perpetual Sukuk

MALAYSIA: Malaysia Airports Holdings (MAHB) yesterday priced its maiden perpetual non-call 10-year subordinated Sukuk. Worth RM1 billion (US$289.74 million), the facility carries an annual profit rate of 5.75% and has been met with overwhelming demand; a total of RM5 billion (US$1.45 billion) in excess was received, representing a bid-to-cover ratio of 5.5 times. The high demand for the paper, which is part of MAHB’s RM2.5 billion (US$724.35 million) Sukuk program launched in September 2013, is likely to be driven by....

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