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Sunday, January 22, 2012

Notable Sukuk Issuances

Source : Securities Commission Malaysia

Malaysia has firmly entrenched itself as a pioneer in sukuk origination having registered many industry “firsts” in recent years. The following are among the notable sukuk issuances in Malaysia:

Issuer AmountYear Transaction Highlights
Shell MDSRM125 million (USD33 million)1990World’s first ringgit sukuk issuance by foreign-owned, non-Islamic company
Kumpulan Guthrie BhdUSD150 million2001World’s first global corporate sukuk
Government of MalaysiaUSD600 million2002World’s first global sovereign sukuk
International Finance Corporation (World Bank)RM500 million (USD132 million)2004First ringgit sukuk issuance by supranational agency
Cagamas MBS BhdRM2.05 billion (USD540 million)2005World’s first Islamic residential mortgage-backed securities
PLUSRM9.17 billion (USD2.86 billion)2006Complex and innovative structure – conversion of existing debts of PLUS info Islamic financing
Khazanah Nasional (Rafflesia Capital Limited)USD750 million2006World’s first exchangeable sukuk
AEON Credit ServicesRM400 million
(USD125 billion)
2007First Japanese-owned company issuing sukuk
Nucleus Avenue (Malakoff Corporation)RM8 billion
(USD2.5 billion)
2007First hybrid sukuk in the world
Khazanah Nasional (Cherating Capital)USD850 million2007Largest equity-linked sukuk issuance and record highest over-subscription
Maybank BerhadUSD300 million 2007World’s first international subordinated sukuk
Binariang GSM RM15.35 billion (USD4.8 billion)
2007Largest-ever sukuk issue in the world

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