Axiata Contemplating USD 1 Billion Global Securities Offer; Potentially as Sukuk

Axiata Group (Axiata), Malaysia’s largest wireless carrier, is contemplating a global bond offer of up to USD 1 billion (MYR 4.26 billion) which potentially could be in the form of Sukuk for funding requirements, according to local media reports.

If confirmed, this is slated to be Malaysia’s largest corporate offering of Sukuk since 2015, when Petroliam Nasional (Petronas) made its Sukuk issuance. According to the IslamicMarkets Sukuk Monitor, Petronas sold USD 1.25 billion of Sukuk notes in March 2015 with a profit rate of 2.707% over a five-year tenure.

Axiata previously tapped the global Sukuk market in 2016, after its deb...