Jun 28 2011 |
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UPDATE: Malaysia Seeks To Price Benchmark Dollar Sukuk As Early As Today
Tuesday, Jun 28, 2011
(Adds guidance in 2nd paragraph.)
By Arran Scott
Of DOW JONES NEWSWIRES
SINGAPORE (Dow Jones)--Malaysia's government aims to price its proposed two-tranche dollar-denominated Islamic bond as early as Tuesday, according to a term sheet.
The sovereign issuer is seeking to pay a spread of around 160 basis points over the comparable U.S. Treasury yield for a five-year bond, and 20 basis points on top of the yield on the 5-year tranche for a 10-year bond.
CIMB, Citigroup , HSBC and Maybank are bookrunners for the benchmark-size global sukuk.
The proposed bonds have an expected rating of A- from Standard & Poor's and A3 from Moody's Investors Service.
--P.R. Venkat contributed to this article
(END) Dow Jones Newswires
28-06-11 0727GMT
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