Cagamas issues $72.8 million variable rate Sukuk Commodity Murabahah.
The Sukuk marks an important milestone to stimulate the variable rate Sukuk market and it is envisaged to be a benchmark for the Malaysian bond market. Cagamas' offering of the Sukuk will appeal to investors seeking to diversify fixed income portfolio instruments with a Shari'ah-compliant variable rate product. This benchmark Sukuk increases the suite of Shari'ah-compliant fixed income products offered by Cagamas in the market, reinforcing itself as the leading player in the Islamic finance industry.
The Joint Lead Managers for the Transaction are CIMB Investment Bank Berhad, HSBC Bank Malaysia Berhad and Maybank Investment Bank Berhad.
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