CIMB Bank, Malaysia's second-biggest lender by assets, returned to the international bond market on Wednesday, selling a $500 million three-year floating-rate note and a $500 million five-year fixed-rate bond.
The Reg-S deal was launched on the heels of a slight sell-off in the region's bond market, as energy companies dragged down prices on the back of rising US crude oil inventories and expectations among investors that the US Federal Reserve will raise interest rates next week.
“The market is generally softer this week and we see credits across the region trading at least 1bp or 2bp wider,” said a syndicate banker. “The tone has turned cautious...
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