BIBD wins best local bond currency deal of the year
Source : BIBD Website
23 Jan, 2014
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January 23th, 2014 BIBD, along with DBS Bank and Maybank Kim Eng,were awarded with the Best Local Bond Currency Deal of the Year in Southeast Asia at the 7th Annual Alpha Southeast Asia Deal & Solution Awards 2013.
On hand to jointly receive the award for BIBD were representatives Hak Yeung, Head of Corporate Finance and Advisory and Deputy Manager, Abdul 'Azim bin Hj Mohammad at the Hilton Kuala Lumpur in Malaysia.
The award was for BIBD's participation as Joint Lead Managers along with Maybank Kim Eng and DBS Bank in Swiber Capital's first ever Islamic Sukuk worth SG$150 million.
Maybank Kim Eng was also the role Sole Lead Arranger, Bookrunner & Global Coordinator.
BIBD, in their capacity as Joint Lead Managers, managed to secure almost half of the 150 million Singapore dollar deal.
According to Reuters, this has helped Swiber clinch pricing that was more competitive than conventional debt1.
The Sukuk is based on the Wakalah Bi AlIstithmar principle. The Sukuk will be used to refinance debt and support capital expenditure, for working capital and general corporate purposes which are Shariah-compliant.
BIBD Head of Institutional Banking, Haji Minorhadi Mirhassan commented, Alhamdulilah, this speaks volumes in terms of BIBD's regional presence as we continuously stride towards putting Brunei and BIBD on the map in terms of showcasing our capabilities.
Since its highly successful January 2007 launch issue, Alpha Southeast Asia has published monthly bank sponsored reports on wealth management, equity strategy, macroeconomic outlook, cash management, trade financing, local currency bond markets and Islamic finance in Southeast Asia.
Unlike most other financial magazines that publish overwhelming coverage on North Asia and dedicate one-tenth or less of their yearly editorial on Southeast Asia, Alpha Southeast Asia is 100% committed to the region.
