Malaysia sold MYR1.5B Sukuk at 4.547% (average) as RAM reaffirms Malaysia’s gA2(pi) sovereign rating

Malaysia sold 1.5 billion ringgit of Sukuk maturing in 2028 at an average yield of 4.547%, Bank Negara Malaysia stated today. The bid-to-cover ratio was 2.77 times.

Separately RAM Ratings rating reaffirmed Malaysia’s gA2(pi) sovereign rating, citing a growing economy forecast to expand at 5.1% GDP (2013: 4.7%), though this was to be balanced by immediate fiscal concerns, in the form of the Government’s persistent fiscal deficit, sizeable debt burden and rising contingent liabilities.

($1 = 3.2475 Malaysian Ringgit)