By Paul A. Harris
St. Louis, Jan. 16 - EON Bank (Malaysia) priced an upsized $225 million issue of 10-year lower tier II subordinated notes (Baa3//BB+) Friday at 99.848 with a 5 3/8% coupon to yield 5.41%, a source said.
The issue, which matures Jan. 21, 2014, was increased from a planned $150 million.
The deal priced at a spread of 245 basis points. Price talk was 270 to 275 basis points.
ING ran the books on the Regulation S issue.
EON Bank is a Malaysian commercial bank.
| Issuer: | EON Bank (Malaysia)
|
| Amount: | $225 million (increased from $150 million)
|
| Maturity: | Jan. 21, 2014
|
| Security description: | Lower tier II subordinated notes
|
| Bookrunner: | ING
|
| Coupon: | 5 3/8%
|
| Price: | 99.848
|
| Yield: | 5.41%
|
| Spread: | 245 basis points
|
| Call date: | Jan. 21, 2009 (coupon step up: plus 150 basis points)
|
| Ratings: | Moody's: Baa3
|
| Fitch: BB+
|
| Price talk: | 270-275 basis points
|
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