Malaysian oil and gas company SapuraKencana Petroleum has issued a US$200mn sukuk to refinance some of its debt.

The sukuk represents the first tranche in a multicurrency, Islamic medium term notes programme of up to RM7bn in nominal value (approximately US$1.6bn) that was announced in June – a first for the company.

Maybank acts as principal adviser and lead arranger for the sukuk programme, which has tenure of 30 years and it is not rated.

SapuraKencana has business in more than 20 countries including China, Australia, Brazil, the US.