Khazanah sells RM1bil bonds

  • Business
  • Wednesday, 18 Jun 2003

KHAZANAH Nasional Bhd, the government's investment arm, yesterday sold RM1bil of five-year bonds at an average yield of 2.996%, Bank Negara said. 

Bids were received for RM1.97bil worth of the government-guaranteed paper. The highest yield was 3.010% and the lowest 2.970%. 

In March, Khazanah sold another RM1bil of five-year bonds at an average yield of 3.70%. 

The average yield of the new issue surprised some fund managers, who had expected it to match that of the five-year benchmark Malaysian government bond of 3.02%. 

“This just shows that the market is flushed with liquidity,” said Scott Lim, fund manager with CMS Dresdner Asset Management, which manages about RM650mil of funds. – Reuters  

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