Thursday July 19, 2012
Pembinaan BLT’s 4th sukuk oversubscribed
KUALA LUMPUR: Pembinaan BLT Sdn Bhd's fourth sukuk issuance via an accelerated bookbuilding process has been oversubscribed by nine times.
Managing director and chief executive officer Mohammed Redza Mohd Yusof said the fourth issuance of RM800mil had received strong demand from investors, which allowed them to achieve competitive rates.
“The bookbuilding exercise began at market open on Tuesday and the deal was priced in the evening of the same day, following overwhelming response from investors.
“The orders received topped RM7.355bil, which represented a bid to cover ratio of 9.19 times,” he added.
The fourth series of sukuk carry a profit rate of 3.45% per annum for the three-year tranche, 3.6% per annum for five-year tranche, 3.7% per annum for seven-year tranche and 3.9% per annum for the 10-year tranche.
The 12-year and 15-year tranches carry a profit rate of 4.08% per annum and 4.23% per annum, respectively.
The company, owned by Ministry of Finance Inc, said the rates for the previous three issuances ranged from 3.6% for the three-year tenure to 5.05% for the 15-year tenure. Bernama