Asian dollar sukuk sales poised to set records
Petronas may sell as much as US$7b; M'sia, Cagamas and Export Import Bank also said to be planning offerings
Kuala Lumpur
ASIA is set for the busiest year for dollar sukuk sales in at least five years as Malaysia's state oil company plans a record offering and Indonesia's government seeks to beat rising US borrowing costs.
Petroliam Nasional may sell as much as US$7 billion of Islamic notes, the biggest ever foreign currency sukuk, which will take the amount outstanding from Asia to US$19 billion, compared with US$76 billion worldwide. Malaysia, Cagamas Bhd and Export Import Bank of Malaysia also plan offerings this year, after a combined US$4.3 billion from the region in 2014 that was the largest in Bloomberg-compiled data going back to 2010.
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