Malaysia International Shipping expected to bring $1 billion notes in second quarter

By Paul A. Harris

St. Louis, March 24 - Malaysia International Shipping Corp. Bhd is expected to bring an offering of approximately $1 billion of notes (Baa2/BB+) with a five- or 10-year tenor sometime during the second quarter, according to a market source.

Barclays Capital and Citigroup are the investment banks mandated to run the deal.

Proceeds will be used to refinance an existing $800 million bridge loan maturing in June 2004.

Malaysia International Shipping is a Kuala Lumpur-based marine shipping and logistics company.

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