Having forsaken a roadshow, the Malaysian sovereign managed to put together over $2 billion of demand for its heavily oversubscribed bond issue.
The 10-year deal, which was lead managed by JPMorgan and Salomon Smith Barney, was upsized from $750 million to $1 billion on the back of spectacular demand, especially from the US where 54% of the demand originated from. Indeed, this overturned a trend in which Asian demand had driven most Asian deals this year,...