Khazanah in non-guaranteed first

The Malaysia government investment agency taps the market for the first time without its government guarantee.

Khazanah, the investment holding company of the government of Malaysia raised RM1 billion $263 million through an issue of five-year bonds on Friday. The deal is the first time that Khazanah has come to market without a government guarantee.

The bonds carry a coupon of 1% and were priced to yield 3.7% all in. Despite the lack of guarantee they were still rated AAA by Rating Agency of Malaysia RAM. In view of the strategic importance...

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