SINGAPORE, June 16 (IFR) - Rukun Juang privately placed
short-term Islamic floating-rate Islamic notes last Wednesday to
raise M$993m (US$235.4m).
The Malaysian real-estate developer sold the sukuk, split
equally between maturities of one and two years, at a spread of
1.25% over the lead banks’ internal cost of funds.
Parent MRCB, which controls 85% of the issuer, provided a
Rukun Juang is developing a M$20.67bn project, including the
refurbishment of facilities at the National Sports Complex in
Bukit Jalil under a privatisation agreement with the government.
CIMB Islamic Bank and RHB Islamic Bank were joint lead
managers for the issue, which settles on Monday.
(Reporting by Kit Yin Boey; Editing by Vincent Baby)