MMC Sukuk Gets 'Best Islamic Finance Deal Of The Year In South-East Asia' Award

KUALA LUMPUR, Feb 16 (Bernama) -- MMC Corp Bhd's inaugural US$360.05 million (RM1.5 billion) Sukuk Murabahah (via Tawarruq arrangement) has emerged as the Best Islamic Finance Deal of the Year in South-East Asia at the Alpha South-East Asia Deal & Solutions Awards 2015. In a statement Tuesday, MMC said, the sukuk, which saw RHB Investment Bank Bhd (RHBIB) as the sole principal adviser, sole lead arranger and sole lead manager, was rated 'AA-' by Malaysian Rating Corp Bhd. "It was also well-received to register a bid-to-cover ratio of 1.5 times with strong participation from funds and insurance companies," it said. MMC Group Managing Director, Che Khalib Mohamad Noh, said the sukuk was the company's third corporate exercise with RHBIB last year, following Malakoff Corp Bhd's initial public offering in May and the acquisition of NCB Holdings Bhd in October. "The award underscores the well-structured transaction of MMC and the strong interest from investors of our sukuk issue," he said. -- BERNAMA