KEXIM to price US$100mil of ringgit bonds

  • Business
  • Wednesday, 04 Feb 2009

KUALA LUMPUR: The Export-Import Bank of Korea (KEXIM) is expected to price about US$100mil (RM361.3mil) of three-year ringgit-denominated bonds this week, a KEXIM official said yesterday.

The official, who refused to be identified, said RHB Investment Bank was lead managing the deal.

The sale comes as bond offerings in the Malaysian market have slowed markedly due to the global downturn which has frozen credit lines and halted corporate expansion.

Analysts think that the market would struggle to recover this year although public issuance could be higher due to government funding of economic stimulus programmes.

Some analysts expect Malaysia’s government bond issuance to be over RM70bil in 2009, up from RM52.5bil in 2008.

Corporate bond sales are seen at around RM20bil this year, versus an estimated RM27bil in 2008.

State-run KEXIM funds the country’s exporters. - Reuters

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