Global sukuk record unlikely as 1Malaysia delays US$2.4b sale
Kuala Lumpur
GLOBAL Islamic bond sales look set to miss out on a record year after Malaysia's sovereign wealth fund postponed what would have been 2014's biggest offering. The top underwriter is also cautious over the coming year.
Issuance to date is US$2.1 billion shy of the unprecedented US$46.8 billion in 2012 and more than last year's US$43.1 billion total, data compiled by Bloomberg shows.
1Malaysia Development Bhd, which has come under criticism from opposition lawmakers because of its rising debt, put off a plan on Monday to sell the equivalent of US$2.4 billion of sukuk until the first half of 2015, said two people with knowledge of the deal.
CIMB Group Holdings Bhd, this year's leading Islamic debt arranger, predicts that it will be a challenge for sales to test new highs next year as the …
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