MAHB raises RM800m via senior Sukuk Wakalah issuance

Malaysia Airports Holdings Bhd (MAHB) has issued Senior Islamic Medium Term Notes (Senior Sukuk Wakalah) of RM800 million in nominal value from its RM5 billion Sukuk Wakalah programme. The triple-tranche offering comprises five-year RM475 million with a 3.87% distribution rate per year, seven-year RM225 million at 4.14%, and 10-year RM100 million at 4.25%. Offered through a book-building process, the Senior Sukuk Wakalah received overwhelming demand from investors with total orders received exceeding RM4.6 billion at peak, which translates into an oversubscription rate of more than nine times from the initial target issue size of RM500 million. It was upsized to RM800 million, which represents a commendable book-to-cover ratio of more than five times at closing.