MISC prices debut bond

Malaysian shipping company prices midway between sovereign proxies Petronas and Tenaga.

Malaysia International Shipping Corporation MISC completed an inaugural two tranche bond issue on Friday raising $1.1 billion from and a five and10-year 144a transaction.

Under the lead management of Barclays and Citigroup, the Baa1BBB rated credit raised $400 million via the five-year tranche and $700 million via the 10-year deal after seeing order books close at respectively $1.3 billion and $1.1 billion.

The five-year tranche was priced at 99.834% to yield...

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