CIMB Group Holdings Bhd is poised to overtake Malayan Banking Bhd as the lead arranger for Islamic bonds this year after helping manage Malaysia’s second-biggest offering in 2011.
The lender co-arranged power producer Tenaga Nasional Bhd’s sale of RM4.85 billion (US$1.6 billion) of syariah-compliant debt in conjunction with Kuala Lumpur-based Bank Islam Malaysia Bhd. That offering took the bank’s total to US$4.5 billion, compared with Maybank’s US$3.8 billion, according to data compiled by Bloomberg. Sales of Islamic bonds doubled in October as yields at a seven-week low and the resolution to Europe’s debt crisis encouraged borrowers.
CIMB will focus on attracting Middle East issuers to Malaysia and clinching more deals at home as part of its strategy for 2012, said deputy chief executive officer Lee Kok Kwan.
Maybank’s investment arm said the lender plans to concentrate on markets in Singapore, Indonesia and China.
“The Middle East will continue to be an important market,” Lee said in an interview in Kuala Lumpur yesterday. “We have mandates on hand and will continue to pitch for more deals there.”
Maybank and CIMB, Malaysia’s two-biggest banks, respectively, managed a combined 40 per cent of global sukuk issued this year, data compiled by Bloomberg show. The lenders handled a RM5.9 billion sale from Pengurusan Air SPV Bhd, a state-owned water-asset management company, in June, the biggest domestic offering this year. They were also among four underwriters of the country’s US$2 billion sovereign Islamic bonds in June. -- Bloomberg
The lender co-arranged power producer Tenaga Nasional Bhd’s sale of RM4.85 billion (US$1.6 billion) of syariah-compliant debt in conjunction with Kuala Lumpur-based Bank Islam Malaysia Bhd. That offering took the bank’s total to US$4.5 billion, compared with Maybank’s US$3.8 billion, according to data compiled by Bloomberg. Sales of Islamic bonds doubled in October as yields at a seven-week low and the resolution to Europe’s debt crisis encouraged borrowers.
CIMB will focus on attracting Middle East issuers to Malaysia and clinching more deals at home as part of its strategy for 2012, said deputy chief executive officer Lee Kok Kwan.
Maybank’s investment arm said the lender plans to concentrate on markets in Singapore, Indonesia and China.
“The Middle East will continue to be an important market,” Lee said in an interview in Kuala Lumpur yesterday. “We have mandates on hand and will continue to pitch for more deals there.”
Maybank and CIMB, Malaysia’s two-biggest banks, respectively, managed a combined 40 per cent of global sukuk issued this year, data compiled by Bloomberg show. The lenders handled a RM5.9 billion sale from Pengurusan Air SPV Bhd, a state-owned water-asset management company, in June, the biggest domestic offering this year. They were also among four underwriters of the country’s US$2 billion sovereign Islamic bonds in June. -- Bloomberg
