MOF appoints 3 institutions to be Joint Lead Arrangers for “Samurai” bond

Lim Guan Eng (four left) with the representatives of the three Joint Lead Arrangers appointed for the “Samurai” bond in Putrajaya on Friday (Jan.18)

PUTRAJAYA: Three institutions namely Mizuho Bank (Malaysia) Berhad, HSBC Bank Berhad and Daiwa Capital Markets Singapore Limited were appointed to be the Joint Lead Arrangers for 200 billionYen (RM7.6 billion) “Samurai” bond in Japan for the government of Malaysia.

The Ministry of Finance (MOF) said, the appointment was made after six proposals were shortlisted from 27 received by the 2nd November 2018.

“The final decision was made after MOF was convinced that these three were the best institutions which have the necessary experience, expertise and most importantly, conviction and faith in the Malaysian economy and that they will enjoy the lowest possible cost of funds,” said MOF in a statement today.

The statement added, as part of the government to government arrangement the Japan Bank of International Cooperation (JBIC) will be guaranteeing the bond. This will allow the Government of Malaysia to pay all inclusive indicative coupon rates of less than 0.65 percent per annum.

However the bond is expected to be raised in the next few months.

Meanwhile the Minister of Finance, Lim Guan Eng in the statement said he will lead a Malaysian delegation to Tokyo in February 2019 to meet all relevant investors to ensure a successful bond raising exercise.

“The issuance of the “Samurai” bond is a testament to the confidence the Japanese Government has in the leadership of our Prime Minister, Tun Dr. Mahathir Mohamad and a mark of the intimate relationship between the two countries,” said Guan Eng in the statement.

Guan Eng also thanked the Japanese Government as well as to the Japanese for providing the guarantee for the bond, His Excellency Ambassador Dr. Makio Miyagawa for his invaluable assistance and contribution towards ensuring a smooth negotiation exercise. –Malaysia World News 

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