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Khazanah Issues Exchangeable Sukuk of US$ 357.8 Million

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The press release states, “Khazanah Nasional Berhad is pleased to announce the successful issuance of a seven-year benchmark exchangeable sukuk of USD357.8 million (“The Sukuk”), via an independent Labuan incorporated special purpose company, Pulai Capital Ltd., exchangeable into the shares of Parkson Retail Group Limited (“Parkson”), one of the largest department store operators in the People’s Republic of China.

The Sukuk was successfully priced through an accelerated book-building process on 14 March 2012, and at the tightest end of the price guidance at -0.25% yield to maturity and 30.0% exchange premium. The transaction drew a demand of 3.4 times book size, attracting a diverse group of over 100 investors comprising long only funds, hedge funds, arbitrage funds as well as asset managers across Asia and Europe.

The negative yield which translates to the willingness of investors to pay for participation in this transaction indicates their confidence in Khazanah’s solid credit standing and Parkson’s growth prospects, which is underpinned by the positive outlook of China’s consumption story.”

Read more: Khazanah Nasional Press Release

Follow the Money – Episode 45

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This longer-than-normal episode covers a wide range of issues including such as sovereign wealth funds, bitcoin, cryptocurrencies, Indian real estate, ESG, investment exclusions, central banking and more.

EPISODE 45

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The views in this media are expressed by Michael Maduell and other participants and are not reflective of the Sovereign Wealth Fund Institute (SWFI).

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CalPERS Board Elects Priya Mathur as Board President

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The board of the California Public Employees’ Retirement System (CalPERS) elected Priya Mathur as board president. The current president Rob Feckner was named vice president of the board. Feckner previously served as board president and vice president.

Priya Mathur is serving her fourth term on the CalPERS Board of Administration. Mathur is a principal financial analyst for Bay Area Rapid Transit District (BART). Mathur represents public employees on the CalPERS Board, which she joined in 2002. She currently serves on four committees: Governance, Investment, Pension & Health Benefits, and Risk & Audit. She chairs the Pension & Health Benefits Committee and is vice chair of the Governance Committee.

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Oman SGRF Contemplates $1 Billion Infrastructure Fund

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Oman’s State General Reserve Fund (SGRF) is in discussions on forming a US$ 1 billion infrastructure fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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