KUALA LUMPUR: Sabah Development Bank Bhd (SDB) successfully priced its fixed rate RM500mil bond issue last Friday, the bank’s third foray into the ringgit private debt securities market.
The conventional bond issue was backed by a letter of support from the Sabah Government, it said in a statement yesterday.
The bank's inaugural issuance in the local capital market was the RM320mil bonds in 2000, which matured in 2005.
SDB said it tapped the bond market in 2001 for the second time via a revolving underwritten facility with a limit of RM500mil.
Managing director and chief executive officer Peter Lim said he was pleased with the encouraging interest shown by both domestic and offshore investors for the bank’s third issuance.
“Despite volatile market conditions, CIMB has gathered support from investors to close this issue with an impressive order book within a short book-running period of three days,” he said.
CIMB is the principal adviser, lead manager, lead arranger and sole book-runner for the transaction. – Bernama