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UPDATE 1-Malaysia to sell 5-year sukuk at UST+160
June 28, 2011 / 5:41 AM / 6 years ago

UPDATE 1-Malaysia to sell 5-year sukuk at UST+160

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KUALA LUMPUR, June 28 (Reuters) - Malaysia will sell 5-year Islamic bonds at 160 basis points above U.S. Treasuries, IFR said on Tuesday.

The government will also sell 10-year sukuk at 20 basis points above the 5-year spread, the publication, a Thomson Reuters unit, said.

Sources told Reuters last week the government had kicked off a roadshow to market the offering, which was expected to be about $2 billion.

Malaysia planned to issue the sukuk under the wakala or Islamic agency structure, the sources said.

The joint lead managers for the sale are Citi , HSBC , CIMB and Malayan Banking .

The Southeast Asian country, which has the world’s largest sukuk market, last tapped the global market in May 2010 when it sold $1.25 billion of five-year sukuk ijara or Islamic leasing bonds at a yield of 3.928 percent.

Click on for more Islamic finance stories and for a speed guide Reporting by Liau Y-Sing; Editing by Richard Borsuk

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