Monday, Dec 04, 2006
"The issue was a private placement," the banker said.
Standard Chartered Bank (Malaysia) Bhd., RHB Investment Bank Bhd. and Malayan Banking Bhd. were the joint lead arrangers of the issue, fund managers had said earlier.
"I understand strategic investors took up the MYR1 billion arranged by RHB and Maybank," said a fund manager. These investors included the government-managed pension fund, the Employees Provident Fund, he said.
Officials from EPF couldn't immediately be contacted and the fund typically doesn't comment on its investments.
The remaining MYR1 billion of Khazanah's offering was sold by Standard Chartered to a host of investors including managers of Islamic bond funds and some insurers, the fund manager said.
Khazanah's bond is one of only a handful of high-quality issues that have emerged in the market in recent weeks despite a sharp fall in MGS yields.
"Some insurers are underinvested, we hear, and that has made demand strong for strong credits," said the fund manager.
Khazanah's bond sale ended at 0400 GMT Monday and the bonds will be issued Friday, said the banker.
-By Carolyn Lim, Dow Jones Newswires; 603-2692-5254; carolyn.lim@dowjones.com
-Edited by Graham Norris
(END) Dow Jones Newswires
December 04, 2006 01:31 ET (06:31 GMT)
