Sime Darby Property Berhad second Sukuk issuance under the Sukuk Musharakah Programme with a nominal value of RM600 million has received overwhelming attention from a diverse group of fixed-income and high-calibre investors, reaching an oversubscription of more than eight times and accumulating an order book valued at over RM4.8 billion.
Notably, RM200 million of the Sukuk issuance was designated as Sustainability Sukuk, aligned with the Sustainable and Responsible Investment (SRI) Sukuk Framework issued by the Securities Commission Malaysia (“SRI Framework”) and/or ASEAN Sustainability Bond Standards issued by the ASEAN Capital Markets Forum (“ASEAN Sustainability Bond Standard”).
Interest from investors remained strong throughout the book-building process, allowing price tightening of 5 to 12 basis points across the 3-year, 5-year and 7-year Sukuk offering with final profit rates of 4.08% per annum, 4.14% per annum and 4.28% per annum respectively. This demonstrates investors’ confidence in Sime Darby Property’s strong credit and leading position in the property development sector.
Sime Darby Property’s Group Managing Director, Dato’ Azmir Merican, said, “Our Sukuk’s significant oversubscription speaks volumes of the market’s confidence in our fundamentals, further reinforcing our position as the nation’s leading property developer.”
