By Christine Van Dusen
Atlanta, April 22 - Malaysia's Axiata Group Bhd. priced $300 million 5 3/8% 10-year notes (Baa2/BBB-/) at 99.939 to yield Treasuries plus 163 basis points, according to company announcement.
Goldman Sachs, Morgan Stanley and CIMB Bank were the bookrunners for the deal, which was sold through subsidiary Axiata SPV 1 (Labuan) Ltd.
The notes are Axiata's first bond issue. The company said the deal was oversubscribed by more than eight times.
Proceeds will be used to repay a loan to subsidiary SunShare Investments Ltd.
Axiata is a telecommunications and consulting services provider based in Kuala Lumpur.
| Issuer: | Axiata SPV 1 (Labuan) Ltd. (Axiata Group Bhd.)
|
| Amount: | $300 million
|
| Maturity: | April 28, 2020
|
| Description: | Guaranteed notes
|
| Bookrunners: | Goldman Sachs, Morgan Stanley, CIMB Bank
|
| Coupon: | 5 3/8%
|
| Price: | 99.939
|
| Spread: | Treasuries plus 163 bps
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB-
|
| Trade date: | April 22
|
| Settlement date: | April 28
|
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