Share
KUALA LUMPUR (Sept 22): The Malaysian Government's Public Sector Housing Financing Board said its RM4 billion Islamic bond was oversubscribed more than three times, due to its "strong credit standing."
The board is also known as Lembaga Pembiayaan Perumahan Sektor Awam (LPPSA).
In a statement today, LPPSA said the RM4 billion bond or sukuk was intended to finance the provision of housing loans to government employees. LPPSA said the sukuk received up to RM13.395 billion worth of orders from 68 investors.
"The strong demand demonstrates LPPSA’s credential as a new sukuk issuer in the market, with a strong credit standing. The sukuk was issued to finance the provision of housing loans to the civil servants.
"The sukuk issued in tranches of 3-year to 30-year was priced at 3.5% to 4.90% per annum across tenures," said LPPSA, which operates under the Finance Ministry's purview.
LPPSA said the RM4 billion sukuk constituted a portion of its proposed RM25 billion sukuk scheme. The Malaysian Government is the scheme's guarantor.
Affin Hwang Investment Bank Bhd, AmInvestment Bank Bhd, Bank Islam Malaysia Bhd, CIMB Investment Bank Bhd, Maybank Investment Bank Bhd, OCBC Bank (M) Bhd and RHB Investment Bank Bhd were the joint lead managers and book runners for the RM4 billion sukuk's book-building exercise.
CIMB Investment is the facility agent, while RHB Islamic Bank Bhd is the Syariah adviser. — theedgemarkets.com
Try out one of our super tools, the rental yield calculator, here.
TOP PICKS BY EDGEPROP
Edusentral @ Setia Alam
Setia Alam/Alam Nusantara, Selangor
Vista Alam Serviced Apartment
Shah Alam, Selangor
Pangsapuri Akasia, Bandar Botanic
Bandar Botanic/Bandar Bukit Tinggi, Selangor
Pangsapuri Palma
Bandar Botanic/Bandar Bukit Tinggi, Selangor
Ambang Botanic
Bandar Botanic/Bandar Bukit Tinggi, Selangor
