KUALA LUMPUR (Oct 20): The Malaysian government’s Public Sector Housing Financing Board today issued RM50 billion worth of sukuk as part of its Islamic Commercial Papers (ICP) and Islamic Medium Term Notes (IMTN) programme.

The board, also known as Lembaga Pembiayaan Perumahan Sektor Awam (LPPSA), said the sukuk size had been increased from RM25 billion previously due to an upsizing exercise, according to Bank Negara Malaysia’s (BNM) website.

“An upsized ICP and IMTN issuance programme, which together with upsized conventional commercial papers and conventional medium term notes, and a syndicated Islamic revolving credit-i facility and syndicated revolving credit/term loan facilities, have an aggregate combined limit of up to RM50 billion in nominal value and all irrevocably and unconditionally guaranteed by the government,” said LPPSA.

AmInvestment Bank Bhd, Bank Islam Malaysia Bhd, CIMB Investment Bank Bhd, Maybank Investment Bank Bhd, OCBC Bank (Malaysia) Bhd and RHB Investment Bank Bhd are the joint lead managers and book runners for the sukuk’s book-building exercise.

CIMB Investment Bank is the facility agent, while RHB Islamic Bank Bhd is the syariah adviser.