April 2, 2014 / 11:27 AM / in 4 years

Malaysia to issue $797.1 mln in sukuk for civil servant loans

KUALA LUMPUR, April 2 (Reuters) - Malaysia will raise 2.6 billion ringgit ($797.18 million) with Islamic bonds on April 7 to finance new and existing housing loans held by government servants.

The government will auction 1.6 billion ringgit in sukuk perumahan kerajaan (SPK) through principal dealers and another 1 billion ringgit will be privately placed, it said in an announcement to the central bank on Wednesday. The SPK wil have tenures of 7.5 years and mature on Oct. 2021.

The first SPK was issued in July 2012 to raise 2.5 billion ringgit. ($1 = 3.2615 ringgit) (Reporting By Al-Zaquan Amer Hamzah; Editing by Nick Macfie)

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