KUALA LUMPUR:'' Gulf Investment Corporation GSC Kuwait (GIC) had on Tuesday, March 1 issued its first local currency Sukuk amounting to RM600 million in the Malaysian market.
'The RM600 million sukuk is an inaugural issue from GIC's RM3.5 billion Sukuk medium term note programme, which was announced on Feb 16, 2011,' the GIC said.
The GIC said this would be its third bond offering in Malaysia. In February 2008, GIC had issued dual tranche conventional notes and now have RM1.6 billion (US$525 million) outstanding with tenors of three, five (new) and 13 years respectively.
The Sukuk debt note programme was accorded AAA and GIC was accorded a financial institution rating of AAA/P1 (stable outlook) by RAM Rating Services Bhd.
The Royal Bank of Scotland Bhd was the sole principal adviser and sole lead arranger. RBS also acted as joint lead managers and joint bookrunners alongside Maybank Investment Bank Bhd.
'The RM600 million sukuk is an inaugural issue from GIC's RM3.5 billion Sukuk medium term note programme, which was announced on Feb 16, 2011,' the GIC said.
The GIC said this would be its third bond offering in Malaysia. In February 2008, GIC had issued dual tranche conventional notes and now have RM1.6 billion (US$525 million) outstanding with tenors of three, five (new) and 13 years respectively.
The Sukuk debt note programme was accorded AAA and GIC was accorded a financial institution rating of AAA/P1 (stable outlook) by RAM Rating Services Bhd.
The Royal Bank of Scotland Bhd was the sole principal adviser and sole lead arranger. RBS also acted as joint lead managers and joint bookrunners alongside Maybank Investment Bank Bhd.
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