Filed Under (Business News) by Webmaster on 11-03-2009
PENERBANGAN Malaysia Bhd, which leases aircraft to MAS, has issued RM1.5 billion (US$406.5 million) of 5-year Islamic notes to refinance its borrowings, the firm said today.
The issuance was larger than the RM1.2 billion initially planned and priced at 49 basis points above 5-year government bonds, Penerbangan said.
“The issue was significantly oversubscribed and attracted RM6.38 billion in book size from investors, representing a subscription rate of 4.25 times within the book building period,” Penerbangan said in a statement. – REUTERS
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Filed Under (Other News) by Webmaster on 06-02-2009
Bloomberg report that MALAYSIA plans to sell RM3.5 billion of new 10-year notes that comply with Islamic law next week, according to Bank Negara Malaysia.
The government will auction the securities maturing in August 2019 on February 12 to help fund its budget deficit, the central bank said on its website. The government also plans to offer the same Syariah-compliant notes through a private offering to undisclosed investors, according to its bond-sale calendar.
The Finance Ministry raised RM5 billion from the sale of five-year regular bonds last month, the first of 27 offerings scheduled this year. It will also sell 2012 notes later this month, according to Bank Negara, which conducts auctions on behalf of the Treasury.
Malaysia may raise a record RM73 billion this year from local bond sales as the government steps up public spending to help avert a recession, according to a forecast by CIMB Investment Bank Bhd. It borrowed RM60 billion in 2008 versus RM53 billion in 2007.
Deputy Prime Minister Najib Razak last week said the government will expand a RM7 billion fiscal stimulus programme unveiled in November as exports slumped. It will also revise upwards its budget deficit of 4.8 per cent of gross domestic product, the widest since 2003.
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