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Tuesday October 11, 2011

Pembinaan BLT may sell RM1.2bil sukuk

KUALA LUMPUR: Pembinaan BLT Sdn Bhd, a construction company owned by the Finance Ministry, is planning to sell RM1.17bil of Islamic bonds, according to a person with knowledge of the matter.

The Islamic bonds, or sukuk, which pay returns from assets that comply with the religion’s ban on interest, were part of a RM10bil medium-term note programme, said the person, who asked not to be named because the information was private.

Orders for the debt were to open as early as yesterday. The securities would be sold in six portions with tenures ranging from three to 15 years, the person said.

Pembinaan BLT sold RM1.1bil of syariah-compliant bonds with maturities ranging from five to 12 years on Jan 31 to raise funds to build police facilities and repay debt. — Bloomberg

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