IslamicFinance.de

Malaysian sovereign wealth fund Khazanah Nasional Berhad is marketing five-year US dollar sukuk in the US Treasuries plus 190bp area. CIMB, DBS and Standard Chartered are lead managers for the deal that is expected to price today. The Reg S senior unsecured bonds will list in Malaysia and Singapore under English and Malaysian law. The sukuk will be issued through Danga Capital Berhad, a special purpose vehicle, with the SWF acting as obligor. They will be issued off a multi-currency Islamic securities issuance programme.

The Islamic Bank of Asia, majority owned by DBS is looking for acquisition opportunities in Malaysia and Indonesia, although it is also keen on Saudi Arabia, the UAE and Kuwait. The Islamic Bank of Asia currently focuses on commercial banking, corporate finance, capital market and wealth management services. The step towards Malaysia and Indonesia targets the retail markets.