IslamicFinance.de

A RM500mil (US$163mil) Islamic bond has been issued by the National Bank of Abu Dhabi. The issued sukuk has an interest rate of 4.75% and will mature in 15 years. The joint lead managers of the transaction besides the Malaysian national bank were HSBC, Maybank Investment Bank and Standard Chartered.

The senior notes under HSBC Amanah Malaysia's proposed Multi-Currency Sukuk Programme of up to MYR 3 billion have received a long-term rating of AAA by RAM Ratings. At the same time, respective long- and short-term financial institution ratings of the bank have been reaffirmed at AAA and P1. The outlook for both long-term ratings in terms of stability looks positive.

HSBC Amanah Malaysia Bhd wants to present an innovative sukuk this year for retail investors to maintain HSBC's position as a leading sukuk house.
Rafe Haneef, chief executive officer, stated that a launch of a retail bond product is needed so that the retail investors can share the sukuk pie.
According to Rafe, the bank has almost completed its retail and corporate propositions and has also renewed its leasing products, which are world-class now.

It appears that Malaysia is going to choose Maybank Investment Bank Bhd, CIMB Investment Bank Bhd and HSBC Amanah Malaysia Bhd to advise on a global Islamic sovereign bond to raise more than US$1 billion. An anonimous source told that this could start even next month.
The government seems to be arranging a 10-year dollar-denominated sukuk, in its second sovereign sale of Shariah-compliant debt in a year.