Strong demand for exchangeable bond into IOI Corp

Pricing is pushed to the aggressive end of the range as the long-awaited bond issue is more than six times covered.

IOI Capital has sold $370 million worth of bonds exchangeable into its parent company, Malaysian palm oil producer IOI Corp, at a price that must be described as aggressive.

IOI Corp, which also manufactures oleochemicals and specialty oils and fats and is active within property development and investments through a subsidiary, will act as guarantor for the bonds.

With $2.5 billion worth of orders and 125 accounts in the book, Citigroup as the sole bookrunner managed to push the yield...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition


  • Green Bonds Southeast Asia

    25 May 2017  |  Singapore
    With Green Bonds globally reaching USD200 billion outstanding in 2016, from as little as 30bn just 4 years ago, can SE Asia corporations and ...
  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...