MYR 750 Million Sukuk Wakalah Maiden Offering by Bank Simpanan Nasional Oversubscribed

The MYR 750 million Sukuk Wakalah offering by Malaysia-based Bank Simpanan Nasional (BSN) has had a strong reaction, with a 3.48x oversubscription. This is the state-owned bank’s first issuance in the capital markets.

Why it Matters?

Jay Khairil, Chief Executive Officer at BSN, remarked that because this is BSN's first issuance in the capital markets, the successful launch of this offering marks a key milestone for the bank. The proceeds are to be used for BSN's Shariah-compliant finance activities, which include refinancing existing/future debt, working capital, and other company purposes. This issuance is part of BSN’s recently established Sukuk Wakalah programme, nominally valued at MYR 3.5 billion.

Details

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