Axiata’s Landmark USD 1.5 Billion Dual-Tranche Offering Oversubscribed; Secures Lowest 30-Year Coupon for Asian Corporate

Axiata Group (Axiata) has secured the lowest 30-year coupon for an Asian corporate after its landmark USD 1.5 billion dual-tranche issuances were oversubscribed. The offerings, which comprise of a 10-year USD 500 million Sukuk and a 30-year USD 1 billion conventional notes, will be issued via its wholly-owned special purpose vehicles Axiata SPV2 and Axiata SPV5 (Labuan) Limited, respectively.

According to local media reports, the final orderbook for the issuances were USD 6.8 billion, with participation from 245 accounts from significant financial markets, making it one of the most oversubscribed deals in Asia over the past year. The Sukuk was finally priced at US Treasuries (UST) + 1.48% with a final orderbook size of...