RHB Bank finally emerges with $300 million dollar debut

Malaysian lender RHB Bank on Tuesday night priced a $300 million five-year debut dollar bond finally crossing the line after mandating banks more than a year ago. The initial guidance was Treasuries plus 270bp and this was tightened to Treasuries plus 255bp to 265bp with the bond pricing at the tight end at Treasuries plus 255bp.

RHB Bank had been eyeing a dollar bond as early as March 2011 and, at that time, it had mandated Bank of America Merrill Lynch and Goldman Sachs. However, the deal never made it to market and Citi has since replaced Goldman Sachs while BoA Merrill was retained by the company as...