Malaysia's US dollar sukuk oversubscribed - Zafrul

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The government has successfully priced the world’s first sovereign US Dollar Sustainability Sukuk, via the issuance of US$800 million (RM3.3 billion) 10-year trust certificates and also issued US$500 million 30-year trust certificates with the allocation well spread globally from Asia to the United States.Investors’ confidence was clearly reflected in the offering being oversubscribed by 6.4 times.Due to the overwhelming demand, the government decided to upsize to US$1.3 billion from the initial US$1 billion, the Finance Ministry (MoF) said in a statement today.It said both tranches have been assigned a rating of A3 by Moody’s Investors Service and A- by S&P Global Ratings.The strong demand has also resulted in the lowest ever yield and spread for a US dollar sukuk issuance by Malaysia, with the 10-year and 30-year trust certificates priced at 2.07 percent [T + 50 basis po…