MALAYSIA: State-owned investment company, Johor Corporation (JCorp), will probably pay less than ‘AAA’-rated issuers to sell its RM3 billion (US$967.87 million) government-guaranteed Sukuk, according to market analysts from MCIS Zurich Insurance and Bangkok Bank.
According to the analysts, JCorp may price a 10-year Sukuk at 30 basis points more than conventional sovereign bonds, equivalent to 3.83%. ‘AAA’-rated issuers Pembinaan BLT and PLUS’ recent Islamic bond offerings were priced at 4.13% and 4.4%, respectively.