FINWIRES · TerminalLIVE
FINWIRES

Malaysia Raises $1.5 Billion via Global Islamic Bond Issue

By

Malaysia completed a $1.5 billion dual-tranche global sukuk, or Islamic bond, issuance after attracting investor orders exceeding $9.5 billion, or 4.7 times the amount offered, the country's finance ministry reported Friday.

The sale comprised an $850 million sukuk, maturing in 5.75 years, and a $650 million tranche, with a 10-year tenor.

Strong investor demand allowed the government to price both tranches 30 basis points below the initial pricing guidance, resulting in the narrowest spread ever achieved for a Malaysian global sukuk issue.

Proceeds will be used for Shariah-compliant government purposes, including funding development spending and refinancing existing obligations, the Ministry said.

Related Articles

Asia

Sichuan Biokin Pharmaceutical's ADC Enters Phase Three Trial for Biliary Tract Cancer

Sichuan Biokin Pharmaceutical (SHA:688506) said the first patient for its third-phase randomized controlled clinical trial has been dosed, according to a Friday filing with the Shanghai bourse.The trial is evaluating the company's flagship EGFR×HER3 bispecific antibody drug conjugate (ADC), Lunka Yilong Tuodan/Yizekang, for locally advanced or metastatic biliary tract cancer after platinum chemotherapy failure.Shares of the pharmaceutical company were down 4% in recent trade.

SHA:688506
Asia

Tcm Biotech's Safety Trial for UTI Drug to Continue After Review

Tcm Biotech International (TPE:4169) said an independent review of the interim analysis for its Phase three trial of U101, an oral drug candidate to prevent recurrent urinary tract infections in women, recommended the study continue as planned.The Independent Data Monitoring Committee found the trial's overall safety profile to be sound and recommended continuing patient enrollment, according to a Thursday Taiwan Exchange filing.The company did not disclose efficacy or statistical results, in line with the trial protocol.The trial aims to enroll 348 women, and is assessing U101's ability to prevent recurrent urinary tract infections over a 24-week treatment period.

TPE:4169
Asia

Market Chatter: Indian Billionaire Gautam Adani Considers Entering Airline Business

The group of Gautam Adani is considering launching a new airline, Reuters reported Thursday, citing two sources with direct knowledge of the matter.The report said no final decision has been made, with the group still evaluating the proposal given the challenges of generating profits in the airline industry.The Indian government has privately encouraged several business groups, including Adani, to consider starting an airline as Air India dealt with the aftermath of last year's fatal Ahmedabad crash and IndiGo faced operational disruptions, according to the report.Adani Enterprises (NSE:ADANIENT, BOM:512599), the Indian billionaire's flagship company, did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

BOM:512599NSE:ADANIENT