By Reshmi Basu
New York, March 9 - Malaysia's Penerbangan Malaysia Bhd. sold a $1 billion offering of 10-year global bonds (A3/A-) at 99.864 with a 5 5/8% coupon to yield 5.643%, or 35 basis points over mid-swaps, according to a market source.
The deal priced at the tight end of price guidance of 35 to 38 basis points.
CIMB Bhd., Deutsche Bank and Morgan Stanley managed the Rule 144A and Regulation S transaction.
The issuer is 100% owned by Khazanah Nasional Bhd., the investment-holding arm of Malaysia. Penerbangan Malaysia is the majority owner of Malaysia's biggest airline, Malaysian Air.
The Malaysian Federation will guarantee the notes.
| Issuer: | Penerbangan Malaysia Bhd.
|
| Amount: | $1 billion
|
| Issue: | Global bonds
|
| Maturity: | March 15, 2016
|
| Coupon: | 5 5/8%
|
| Issue price: | 99.864
|
| Yield: | 5.643%
|
| Spread: | Mid-swaps plus 35 basis points
|
| Pricing date: | March 9
|
| Settlement date: | March 16
|
| Lead managers: | CIMB Bhd., Deutsche Bank, Morgan Stanley
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Price guidance: | 35 to 38 basis points over mid-swaps
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
