Malaysia's state oil company Petronas made a splash on Thursday with Asia's second-biggest corporate dollar bond issue, raising $5 billion with its first international deal in just over five years, though lower than the anticipated $6 billion to $7 billion.
The A1A rated multi-tranche note includes both Islamic and conventional structures and was snapped up by investors despite a backdrop of weak global oil prices and domestic financial scandal due to problems at 1Malaysia Development Berhad, an indebted and state-backed investment firm.
As a result, Petronas was able to price Asia's biggest corporate dollar bond issue since Alibaba Group, China's...
¬ Haymarket Media Limited. All rights reserved.
