Linklaters and Adnan, Sundra & Low have advised the Government of Malaysia on the country’s first sale of bonds in four years, including the world's first 30-year sovereign sukuk. Clifford Chance and Zaid Ibrahim & Co. represented the arrangers and managers.
According to IFR, this sets a long-dated benchmark Islamic curve for other sovereigns to follow. The $500 million 30-year note was part of a two-tranche offering of $1.5bn in Islamic 144A/Reg S bonds, with the other tranche being a $1bn 10-year note.
IFR added that the deal was well distributed among the various investor groups and geographically as well, with the US investors crowding into the 30-year tranche with a 29 percent share. The response underlined investor confidence in the long-term financial and political health of the country.
The Linklaters team was led by Singapore partner Kevin Wong and Hong Kong partner Pam Shores.
The Clifford Chance team advising the joint lead managers, HSBC, CIMB Investment Bank and Standard Chartered Bank was led by Dubai partner Qudeer Latif, who was assisted by partners Crawford Brickley and Matt Fairclough.
