First Silicon can't scupper Sarawak issue.

Sarawak shakes off First Silicon infamy to price US$ offshore municipal bond.

Deutsche Bank priced Malaysia's largest ever Reg S deal late on Friday July 22 with a $600 million 10-year bond for the state of Sarawak via a newly formed issuance entity Sarawak International. The notes are backed by a letter of support from the State Government of Sarawak.

The deal, rated on par with the State at Baa1A- represents a rare municipal dollar-denominated bond from Asia.

Final pricing was...

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