Malaysia’s Global Sukuk 4.7 Times Oversubscribed, Priced at Record-Low Spreads

The Government of Malaysia has successfully priced a US$1.5 billion Global Sukuk offering that was 4.7 times oversubscribed, with peak orderbook exceeding US$9.5 billion. The offering comprised US$850 million of 5.75-year Trust Certificates and US$650 million of 10-year Trust Certificates, and strong demand allowed the Government to tighten final pricing by 30 basis points (bps) from the Initial Price Guidance (IPG), to T+15 bps on the 5.75-year tranche and by 30 bps to T+25 bps on the 10-year tranche, achieving the tightest ever spreads for Malaysia’s global sukuk issuances.