Malaysia banishes sukuk premium in US$1.5bn issue

April 16, 2015 6:55 AM

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SINGAPORE, April 16 (IFR) - The Government of Malaysia sold the world's first 30-year sovereign sukuk yesterday and, in the process, shrugged off domestic woes to establish a long-dated benchmark Islamic curve for other sovereigns to follow.

The 30-year was part of a two-tranche offering of US$1.5bn in Islamic 144A/Reg S bonds to the international markets at a time when 1MDB's M$41.9bn debt woes threaten to derail the government's bid to rein in its fiscal and budget deficits.

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