Lebuhraya, Malaysia Airports Plan Sales: Islamic Bond Alert

The following borrowers are expected to sell Islamic bonds, which use asset returns to pay investors to comply with the religion’s ban on interest. Global sales of sukuk fell 28 percent to $7.9 billion so far this year, according to data compiled by Bloomberg. Issuance totaled $20.2 billion last year, up from $14.1 billion in 2008.

KONSORTIUM LEBUHRAYA UTARA-TIMUR: The owner of the Duta-Ulu Kelang Expressway in Malaysia plans to sell as much as 780 million ringgit ($247 million) of senior Islamic bonds and a junior sukuk of up to 50 million ringgit, the Business Times reported, citing an unidentified person familiar with the plan.