Khazanah in non-guaranteed first

The Malaysia government investment agency taps the market for the first time without its government guarantee.

Khazanah, the investment holding company of the government of Malaysia raised RM1 billion $263 million through an issue of five-year bonds on Friday. The deal is the first time that Khazanah has come to market without a government guarantee.

The bonds carry a coupon of 1% and were priced to yield 3.7% all in. Despite the lack of guarantee they were still rated AAA by Rating Agency of Malaysia RAM. In view of the strategic importance of Khazanah to the Government, RAM believes that support should be forthcoming in times of need, says Kelly Chan, an analyst with RAM in Kuala Lumpur. Furthermore, the sheer size of Khazanah's investments provide it...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222