Malaysia: Axiata issuing $500m multi-currency Islamic bond

Axiata group logo

By Liz Lee

November 18, 2015

Axiata Group Bhd is issuing a $500-million Islamic bond, which forms the second portion of the mobile telecommunication network provider’s multi-currency $1.5-billion sukuk scheme.

In a statement to Bursa Malaysia last Friday, the group said the five-year sukuk carried an annual profit rate of 3.466 per cent.

The company said, the sukuk was expected to be listed on Bursa Malaysia and the Singapore bourse.

Axiata president and group chief executive officer Jamaludin Ibrahim said, in a separate statement, that the sukuk had attracted interest from Islamic and conventional institutional investors, including asset management and insurance firms, aside from sovereign wealth funds.

“Similar to the first series of RMB sukuk issued in 2012 under the sukuk programme, we are pleased that the response for this sukuk issuance was positive. Despite the challenging business environment and volatility in the marketplace today, the strong participation from international investors is a testament to our solid fundamentals.

“Axiata is focused on our long-term strategy to be a regional champion, and will continue to look towards opportunities in the capital markets to strengthen our capital base and support our aspirations,” he said.

Also read: Indonesia telecom operator XL Axiata to raise $110m from Sukuk bonds

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
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