Perpetual Sukuks in Vogue as Malaysia Airports Sells Debt
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Malaysia Airports Holdings Bhd.’s plan to sell perpetual sukuk highlights rising interest in the debt from companies looking to shore up their balance sheets.
The manager of all of Malaysia’s 39 airports will hold an investor presentation for the offer on Aug. 25, two people with knowledge of the deal said last week. It will be the nation’s first sale of rated ringgit Islamic bonds with no set maturity following unrated issues by Malaysian Airline System Bhd. in 2012 and Boustead Holdings Bhd. in June. Boustead, a plantations company, sold the notes at 6.1 percent, 2.3 percentage points higher than its two-year non-Islamic debt at the time.