Indonesia’s Adira Picks Malaysia for Sukuk Sale on Cheaper B

Bareksa.com - Southeast Asia’s largest consumer lender is shunning its home country of Indonesia and selling Islamic bonds in Malaysia, lured by cheaper borrowing costs and a more-active market.

As quoted as from The Jakarta Globe, Adira Dinamika Multi Finance, which helped Indonesians buy 1.8 million motorcycles last year, will offer as much as $150 million of sukuk in Kuala Lumpur, president director Willy Suwandi Dharma said on June 30, without specifying a currency for the sale. Malaysia’s 10-year sovereign ringgit sukuk yield 4.23 percent, compared with 8.97 percent for similar-maturity Indonesian rupiah notes, data compiled by Bloomberg show.

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