Malaysia raised 4.5 billion ringgit ($970 million) in its first sale of domestic Islamic green bonds, increasing the number of countries turning to sustainable debt financing for environmental projects.
The issuance, which was oversubscribed 2.38 times, was priced at 4.662%, Finance Minister Zafrul Aziz said in a statement. He added that total bids of 10.7 billion ringgit were the most since July 2019 for long-duration debt.
“The issuance is also a testament to the government’s efforts in advancing climate action as well as accelerating the transition toward achieving a prosperous, inclusive, and sustainable nation,” Zafrul said.
According to the statement, local financial institutions took up half the issuance, followed by institutional investors at 38.4%, insurers at 7.2%, and foreign investors at 4.1%.
Source: BNN Bloomberg
