According to the report, this huge figure of issuances is due to the $9.7 billion issuance announced by Plus Expressways Berhad, the biggest company in construction and operation of highways in Malaysia.
Also, Dubai’s outstanding 2015 note was quoted at 483 basis points over mid-swaps, while its 2020 is 511 basis points.
Similarly, First Gulf Bank successfully placed its $500 million sukuk under its $3.5 billion program and was oversubscribed 2.8 times. Tamweel too decided to issue its $300 million papers during the month. All three issuances were structured as Wakalah with five-year maturities.
In addition, Saudi Arabia witnessed the launch of the much awaited first quasi-sovereign issuance from the country as General Authority of Civil Aviation placed its SAR 15 billion, equals $4 billion, papers, continued KFHR. Sukuk is the term used for bonds issued according to Islamic Sharia law.