Two of Asia's rarest quasi-sovereign credits choose the same day to launch landmark bond deals on Tuesday, with a $750 million global sukuk issue from Malaysian sovereign wealth fund Khazanah Nasional Berhad and a 1.1 billion deal from its Singaporean counterpart Temasek.
Both deals were ground breaking transactions in their own right given that Khazanah was bringing its first straight dollar sukuk and Temasek has never issued in euros before.
However, some market participants queried why Temasek decided to press the button on its deal knowing that Khazanah was already in the market.
I know they're targeting different investor bases but...
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