Structured Finance & Securitisation
Structured finance is another one of our key strengths and we advise on all aspects of structured finance, including securitisations, quasi-securitisations, structured products and derivatives. We are among the few firms to have advised on asset-backed securitisations (ABS) in Malaysia.
Our Pioneering Experience
Our firm was fortunate enough to be involved in one of the earliest ABS transactions in Malaysia, namely, the collateralised bond obligations securitisation undertaken by CBO One Berhad. Between the years 2001 and 2008, in particular, the securitisation market in Malaysia grew rapidly leading to securitisations being undertaken in relation to various asset classes, and with varying degrees of complexity. As demand for ABS transactions grew, our team was appointed to advise on several market-firsts.
Our Market Recognition:
- Structured Finance Deal of the Year 2017 by Islamic Finance News
- The BluePrint Awards for New Structured-Finance Benchmark Deal 2013 by Rating Agency Malaysia
- The BluePrint Awards for New Structured-Finance Benchmark Deal 2011 by Rating Agency Malaysia
Our Deal Experience:
- Advising Commerce International Merchant Bankers Berhad on the structured fund raising exercise by Telekom Malaysia Berhad involving the issuance of up to RM4 billion bonds to investors by a special purpose vehicle, Tekad Mercu Berhad.
- Advising Commerce International Merchant Bankers Berhad on the first issuance of structured products pursuant to the Securities Commission Guidelines on the offering of structured products.
- Advising on one of the market’s first deals related to private finance initiatives (or PFIs), featuring a bank guarantee during the construction stage, namely, Sasaran Etika Sdn Bhd which won The BluePrint Awards for New Structured-Finance Benchmark Deal 2013.
- Advising on SkyWorld’s Sukuk Musharakah MTN Programme of RM600.0 million with an Unrated Islamic Sukuk Murabahah Commercial Papers Programme of up to RM400.0 million which won the Structured Finance Deal of the Year 2017.
- Advising Aldwich Berhad on its acquisition of the waste management businesses from its parent company, Aldwich Enviro-Management Sdn Bhd and the financing for the acquisition through the use of a quasi-securitisation (whole business) structure with the issue of RM877 million senior bonds and junior notes by Aldwich Berhad.
- Advising Aseambankers Malaysia Berhad, the lead arranger, on the securitisation of charge card receivables (first in Malaysia) by way of a RM130 million Medium Term Note programme for Diners Club (M) Sdn Bhd.
- Advising GE Commercial Finance on the issuance of RM130 million asset backed securities issued by ABS Enterprise One Berhad, being the first securitisation of non-performing loans in Malaysia.
- Advising Aseambankers Malaysia Berhad and Citibank Berhad on the issuance of RM150 million Credit Linked Notes by Cagamas SME Berhad, being the first synthetic securitisation transaction in Malaysia.
- Advising AmInvestment Bank Berhad on the securitisation of staff loans originated by Telekom Malaysia Berhad and the corresponding issuance of RM340 million Asset-Backed securities.
- Acted for Hong Leong Investment Bank Berhad in relation to the issuance of asset backed securities via a Sukuk Ijarah programme of up to RM450 million in nominal value by Purple Boulevard Berhad.
- Acted for Hong Leong Investment Bank Berhad in relation to the issuance of asset backed securities via a medium term notes programme of up to RM370 million in nominal value by Lucida Capital Berhad.
- Acted for AmInvestment Bank Berhad and Hong Leong Investment Bank Berhad in relation to the issuance of asset backed securities via a Sukuk Murabahah programme of up to RM900 million in nominal value by Al Dzahab Assets Berhad.