IOI: Palm oil sensation

IOI Corp gets huge demand and tight, tight pricing for its inaugural international bond deal.

One of Malaysia's best-regarded private sector companies IOI Corp secured a new fan base yesterday when it stormed into the international bond markets. The company priced its inaugural, upsized $500 million 10-year dollar bond at 103bp over treasuries, having amassed $3.5 billion in orders.

The huge success of the A3BBB rated transaction can be explained by the rarity value of Malaysian corporate credits as well as the tightening trend of the market in the past...

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