Malaysia prices Asia's largest euro offering

The Federation of Malaysia has made a rare foray into the international bond markets, pricing a first euro-denominated offering yesterday (Thursday).

Led by Barclays Capital and Deutsche Bank, an Eu500 Million $428 million five year deal was increased to Eu650 million on the back of a strong order book, which was all but closed after demand topped the Eu1.25 billion mark.

Priced at 99.510%, the deal pays an annual coupon of 6.37% to yield 102bp over the mid euribor swap rate. Co-managers, receiving no bonds under the pot system used to distribute the deal, comprise ABN AMRO, CIMB,...

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