Malaysia sells $1.25 billion sukuk

After an eight-year absence from the market, Malaysia’s five-year Islamic bond is lapped up by investors, pushing the yield to 3.93% -- a record low for an emerging market sovereign in Asia.

The Malaysia sovereign ended an eight-year absence from the international debt markets with the issue of a $1.25 billion sukuk, or Islamic bond, early Friday morning. The 144AReg-S registered securities were issued with a five-year bullet that has been set to mature on June 4, 2015.

With a 3.93% fixed-rate coupon and an issue and reoffer price at par, this is only the second bond to be issued by an emerging market country in the past five years...

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