Malaysia's government paid higher yields for its second offering of state-backed Islamic bonds on behalf of the national airline to entice investors, (more)
Malaysia's government paid higher yields for its second offering of state-backed Islamic bonds on behalf of the national airline to entice investors, as total issuance of the notes rose to 4.6 billion ringgit ($1.5 billion).
The finance ministry sold 1.2 billion ringgit of the debt yesterday, with orders amounting to 1.5 billion ringgit, said two people familiar with the matter who asked not to be named because the details are private. That compares with 3.6 billion ringgit in bids for a 2 billion ringgit sale of Shariah- compliant debt by rail operator Syarikat Prasarana Negara Bhd. on Aug. 28, which were also government guaranteed.
The finance ministry paid 3.77 percent for the 10-year portion on behalf of Malaysian Airline System Bhd. (MAS) and 4.16 percent for the 15-year notes, compared with 3.74 percent and 4.12 percent in November. Sales of state-backed Islamic securities rose 10-fold to about 20 billion ringgit in 2012 from a year earlier, according to data compiled by Bloomberg.
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