Petronas achieves a blow out

The company re-assumes its position as Asia''s premier blue chip borrower.

After a lengthy absence from the international bond markets, the Malaysian oil company returned in some style yesterday Wednesday with Asia's largest ever corporate bond offering and the region's second ever largest offering behind the Republic of Korea's $4 billion issue.

The success and size of the $2.73 billion three-tranche transaction also means that the deal is likely to provide investors with a second liquid proxy to play Asia alongside the Federation of Malaysia's benchmark 2011 issue.

Pricing of the...

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