Hong Leong Bank's debut senior bond scores record yield

Hong Leong Bank drums up robust investor demand with a $300 million print and prices well inside guidance.

Malaysian lender Hong Leong Bank last night priced a $300 million five-year senior bond the first US dollar senior bond from a Malaysian bank at a record yield.

With a dearth of high-grade Malaysian bank borrowers, Hong Leong’s debut senior bond clearly whetted investors’ appetite. Thanks to its rarity value, the deal priced well inside the guidance and, indeed, achieved the lowest-ever yield for a five-year US dollar issue from a Malaysian borrower. At 3.803%,...

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