13-Oct-2005 11:45 AM
Penerbangan Malaysia issues bonds on behalf of Malaysia Airlines
Analysis
SYDNEY (Centre fora Asia Pacific Aviation) - Penerbangan Malaysia Bhd, parent of Malaysia Airlines, confirmed plans to raise USD1 billion by issuing ten-year US dollar bonds.
Standard & Poor's assigned an 'A-' rating, citing the Malaysian Government's unconditional guarantee for the issue. Proceeds of the bonds will be used to finance aircraft purchases, refinance debt, as well as for working capital. Citigroup, CIMB and HSBC are the joint bookrunners for the issue.
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