Malaysia Sukuk Global Berhad 

The deal was oversubscribed by 4.2 times, attracting an aggregate interest of over US$6.3 billion from a combined investor base of over 195 accounts. This offering marks the GOM’s fifth USD-denominated global Sukuk issuance, following the GOM’s successful global Sukuk issuances in 2002, 2010, 2011 and 2015. Proceeds from this offering will be used by the GOM for Shariah compliant general purposes, specifically for the redemption of Wakala Global Sukuk Berhad’s US$1.2 billion Trust Certificates due in July 2016 as well as to finance development expenditures. The Global Sukuk offering was structured under the Shariah principle of Wakala. The underlying assets for the offering comprise 100% non-physical assets, namely, vouchers representing entitlement to a specified number of travel units and Shariah compliant shares. This unique combination of underlying assets represents a major breakthrough in sovereign Sukuk, being the first time a sovereign has accessed the global Sukuk market without utilizing physical assets (such as land and buildings) or Commodity Murabaha. This innovative Sukuk structure not only paves the way for other sovereigns to follow suit but also further affirms Malaysia’s position as the leader in international Islamic finance. The allocation was well-spread globally, with 65% of the principal amount of the 10-year Sukuk distributed to Asia, 19% to Middle-East, 11% to Europe, and 5% to the United States, whilst 54% of the principal amount of the 30-year Sukuk was distributed to Asia, 12% to Europe, 24% to the United States, and 10% to the Middle-East. Under the structure, at least 80 per cent of the proceeds will be invested in vouchers representing an entitlement to certain travel units, while the balance will be invested in shares of Pengurusan Aset Air Berhad. These assets may be replaced by leasable assets at any time during the life of the sukuk.  

4.080%

Prospectus, 

Wakala 

$0.5 Billion 

USD 

27 April 2046 

Malaysia 

30 Years 

27 April 2016 

S&P/Fitch: A-, Moodys: A3 

Bursa Malaysia , Hong Kong Stock Exchange ,  

CIMB Islamic ,  HSBC ,  JP Morgan ,  Maybank Investment Bank ,  

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