Clifford Chance, Adnan Sundra & Low and A&O Shearman advised on the Government of Malaysia’s US$1.5 billion global sukuk issuance.
Sukuk are Sharia-compliant financial certificates that function similarly to conventional bonds.
The Government of Malaysia completed a Rule 144A/Regulation S US$1.5 billion global sukuk issuance, marking the country’s first US dollar-denominated sukuk in more than five years.
The offering comprised US$850 million 4.612% trust certificates due 2032 and US$650 million 4.949% trust certificates due 2036. The issuance was approximately 4.7 times oversubscribed, attracting demand of more than US$9.5 billion and achieving the tightest spreads ever for Malaysia’s global sukuk issuances.
Clifford Chance advised the Government of Malaysia on the international aspects of the transaction.
The team was led by Partners Gareth Deiner and Qudeer Latif, with support from Legal Consultant Shauaib Mirza, Counsel Stephanie Liman, Associate Adam Fong and Trainee Lawyer Aileen Lee.
Adnan Sundra & Low acted as Malaysian legal counsel to the Government of Malaysia.
The team comprised Head of Banking & Finance Deepak Sadasivan and Partners Kok Ling Gan and Yik Shien Yee.
A&O Shearman advised the joint lead managers on the issuance.
The team was led by Partner Aloysius Tan, with support from Counsel Husayn Reza, Senior Associates Low Jia Yan and Celine Sim, and Associate Nick Yap.
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