PETALING JAYA: CIMB Investment Bank Bhd was named top arranger of Malaysian Rating Corp Bhd (MARC)-rated debt and sukuk programmes/issuances for a sixth consecutive year in 2017.
Maybank Investment Bank Bhd (MIBB) came in second and RHB Investment Bank Bhd third, MARC said in a statement.
The rating agency today published its 2017 Lead Managers’ League Tables, which rank the lead managers by volume and number of lead-arranged MARC-rated issuances in any given year.
It provides a meaningful measure of domestic corporate and project bond and sukuk issuance activity given that only issuances that have attained financial close are included.
“Taking pole spot for the programme size (issue count) category was Maybank Investment Bank Bhd with 11 rated programmes comprising eight sukuk and three bond issuances, while runner-up for the issue count category was CIMB followed by AmInvestment Bank Bhd,” MARC said.
Last year, MARC said it assigned 17 ratings to corporate debt programmes worth RM30.7 billion compared with eight issuers totalling RM13.1 billion in 2016.
For 2018, MARC said it expects a strong upward momentum in private investments, based on the value of Malaysia’s corporate bond issuance in 2017 which surpassed RM100 billion compared with RM86 billion in 2016.
As for the primary market for corporate bonds, MARC foresees total gross corporate bond issuance in 2018 to range between RM90 billion and RM100 billion.
In 2017, MARC said the sukuk market saw the first entry of renewable energy project bonds, namely solar projects.