Managing Director and Publisher of Islamic Finance News Andrew Morgan (left to right), Director & Head of Securitization & Structured Finance of CIMB Islamic Bank Berhad William Chua, Deputy General Manager of Corporate Finance of Mah Sing Group Berhad Leong Yew Leong, Co-Head of Client Coverage of Maybank Investment Bank Berhad Kevin Davies and Adnan Sundra & Low’s Partner Gan Kok Ling.
KUALA LUMPUR: Mah Sing Group Berhad received the Islamic Finance News (IFN) “Perpetual Deal of the Year Award 2015” for its RM540 million perpetual sukuk which was completed in March 2015 by way of private placement.
Over 20 transactions were nominated for the award in 2015. Organised by Islamic Finance News since 2006, the award recognises the industry and market leading practitioners in Islamic finance.
“It is indeed an honour to be the only property developer to win the Perpetual Deal Award, and we thank the panel of expert judges for granting us the distinction. We are also gratified that the investment fraternity showed their confidence in Mah Sing’s management and belief in our track record in taking up the issue,” said Mah Sing’s Group Managing Director Tan Sri Leong Hoy Kum.
The RM540 million perpetual sukuk was successfully placed out to a diverse group of investors including insurance company, fund manager, banks and private banking accounts.
As a perpetual bond, the issue has no fixed maturity date and enables the group to lock-in unsecured long-term funding while strengthening its capital structure. The move reflects its growing stature with the investors, with improved future fund-raising options when required.
CIMB Investment Bank Berhad was the Principal Adviser, Lead Arranger and the Joint Lead Managers, Maybank Investment Bank Berhad was the Joint Lead Manager, CIMB Islamic Bank Berhad was the Shariah Adviser and Adnan Sundra & Low was the legal council for the sukuk.
The Islamic Finance News Awards honours the best in the Islamic financial industry and is one of the most prestigious events recognised by the global Islamic capital markets. These awards continue to be an apt representation of the current Islamic financial market landscape.
