Khazanah Nasional Berhad’s US$1 Billion Dual Tranche Sukuk Offering

Linklaters advised Khazanah Nasional Berhad on the deal. Allen & Overy has advised the joint lead managers and the delegate.

Khazanah Nasional Berhad (Khazanah), the sovereign wealth fund of Malaysia, recently issued US$1bn dual tranche sukuk via a special purpose vehicle, Dua Capital.

The transaction represents Khazanah’s success in returning to the US dollar sukuk market since 2016 and saw strong demand from investors across Asia, Europe and the Middle East, resulting in the total order book reaching approximately US$6bn.

The transaction was led by capital markets partners Amit Singh (Picture) and Jonathan Horan based in the firm’s Singapore office and Jonathan Fried based in Dubai, as well as Phill Hall, counsel based in Singapore.

The A&O team advising on the transaction was led by partners Aloysius Tan and Tim Beech, and counsel Husayn Reza and senior associate Holly Hart, who are based in Singapore.

Involved fees earner: Jonathan Fried – Linklaters; Phill Hall – Linklaters; Jonathan Horan – Linklaters; Amit Singh – Linklaters;

Law Firms: Linklaters;

Clients: Khazanah Nasional Berhad;

Author: Sonia Carcano