Kuwait-based Gulf Investment Corporation (GIC) has raised 750 million ringgit ($255 million) by selling five-year Islamic bonds at 4.90 percent, a source with direct knowledge of the deal said on Tuesday.
The sukuk, which is part of a 3.5 billion ringgit funding programme set up earlier, will be issued on Wednesday to about a dozen investors, said the source who declined to be identified as the deal has not been announced.
The Islamic bond sale was arranged by Malaysia's AmBank and structured according to the concept of wakala bi istithmar, the source said.
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