Malaysian
Rating Corporation Berhad (MARC) said today that CIMB Investment Bank Berhad
(CIMB) was the top arranger of MARC-rated debt and sukuk programmes/issuances
for the fifth consecutive year in 2016. CIMB headed MARC’s 2016 lead managers’
league table with RM8.63 billion in total rated size spread over seven issues.
The 2016 league table also saw Maybank Investment Bank Berhad retaining
runner-up position with RM5.32 billion in total rated size in six issues,
followed by AmInvestment Bank Berhad in third place.
In
2016, the market recorded lower overall volume and number of new rated issuers.
During the year, MARC assigned new issue ratings to eight (8) issuers with a
total programme size of RM13.1 billion, as compared to ten (10) issuers
totalling RM36.6 billion in 2015. Sukuk again dominated the issuance of rated
fixed-income securities, comprising RM12.6 billion (96%) of the total issue
value rated by MARC in 2016.
The
smaller volume and number of issuers rated by MARC in 2016 compared to a year
ago mirrors the decline in the proportion of aggregate rated issuances in
domestic bond and sukuk markets. At the national level, rated bonds have
declined to 51% of total bonds in 2016 as compared to 65% in 2015. However, a
relatively modest decrease in total gross corporate bond issuance was recorded
in 2016 at RM84.8 billion (2015: RM85.0 billion).
“There
were fewer rated bond deals in 2016 in both the infrastructure and corporate
finance space; however, we are seeing an uptick in corporate and project
finance activity since the year began and are encouraged by the active pipeline
for new greenfield projects in 2017,” said MARC Chief Executive Officer Mohd
Razlan Mohamed. Notable MARC-rated issuances in 2016 include Lebuhraya Duke
Fasa 3’s RM3.64 billion sukuk wakalah issuance, which was recognised as “2016
Islamic Issue of the Year” by IFR Asia Awards 2016. In the multilateral space,
MARC rated the Islamic Development Bank’s maiden ringgit-denominated sukuk
wakalah issuance of up to RM400.0 million through its special purpose funding
vehicle, Tadamun Services Berhad.
Published annually, the league tables
rank the lead managers by volume and number of lead-arranged MARC-rated
issuances in any given year. The tables provide a useful indication of domestic
corporate and project bond and sukuk issuance activity, particularly in the
rated segment.
Details
of MARC’s 2016 League Tables are as follows:
LEAD MANAGERS’ LEAGUE TABLE FOR
JANUARY-DECEMBER 2016
(by rated issued value in RM million)
No.
|
Lead Manager
|
Conventional
|
Islamic
|
Total
|
1
2 3 4 5 6 7 |
CIMB Investment Bank Berhad
Maybank Investment Bank Berhad AmInvestment Bank Berhad RHB Investment Bank Berhad OCBC Al-Amin Bank Berhad Bank Muamalat Malaysia Berhad HSB Amanah Malaysia Berhad |
290.0
140.0 - - - - - |
8,343.3
5,178.3 1,640.0 1,000.0 1,000.0 1,000.0 500.0 |
8,633.3
5,318.3 1,640.0 1,000.0 1,000.0 1,000.0 500.0 |
|
TOTAL
|
430.0
|
19,240.0
|
19,670.0
|
LEAD MANAGERS’ LEAGUE TABLE
FOR JANUARY-DECEMBER 2016
(by issue count)
(by issue count)
No.
|
Lead Manager
|
Conventional
|
Islamic
|
Total
|
1
2 3 4 5 6 7 |
CIMB Investment Bank Berhad
Maybank Investment Bank Berhad RHB Investment Bank Berhad Bank Muamalat Malaysia Berhad OCBC Al-Amin Berhad AmInvestment Bank Berhad HSBC Amanah Malaysia Berhad |
2
1 - - - - - |
5
5 5 1 1 1 1 |
7
6 5 1 1 1 1 |
|
TOTAL
|
3
|
19
|
22
|
Note:
Rated issued value credit is given to lead managers based on the programme-specific arrangements between lead arrangers for jointly arranged programmes. Equal issue count credit is given to lead managers for jointly arranged programmes.
Contacts: Ahmad Feizal Sulaiman Khan,
+603-2082 2211/ feizal@marc.com.my;
Lana Mahbob, 603-2082 2212 / lana@marc.com.my.
16 March 2017
[This
announcement is available in the MARC corporate homepage at http://www.marc.com.my]
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