Three novel sukuk transactions are an important step forward for the Islamic finance industry, involving the Government of Malaysia, Khazanah and the Government of Maldives.
The Government of Malaysia issued the world’s first sovereign US dollar sustainability sukuk issuance via $800 million worth of 10-year trust certificates. The proceeds will be used for eligible social and environmental projects. The Government also issued $500 million in 30-year trust certificates concurrently with the 10-year issuance.
The joint offering was the highest oversubscription rate ever achieved by the Government of Malaysia, according to Linklaters, the law firm, which acted for the issuer.
Linklaters added that this...
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