By Christine Van Dusen
Atlanta, Sept. 27 - The Malaysian State of Sarawak priced an $800 million issue of 4¼% 10-year notes (A3/A-/) at 98.996 to yield Treasuries plus 273 basis points, a market source said.
Goldman Sachs was the bookrunner for the Regulation S deal.
Proceeds will be used to subscribe to all the shares in a restricted subsidiary called SSG Capital Resources Sdn. Bhd., according to a news release from Standard & Poor's. The funds will then be made available to the state government for infrastructure projects and development of the biotechnology sector.
The issuer was SSG Resources Ltd., a special-purpose company established in Labuan, Malaysia.
| Issuer: | SSG Resources Ltd.
|
| Amount: | $800 million
|
| Maturity: | Oct. 4, 2022
|
| Description: | Notes
|
| Bookrunner: | Goldman Sachs
|
| Coupon: | 4¼%
|
| Price: | 98.996
|
| Spread: | Treasuries plus 273 bps
|
| Trade date: | Sept. 27
|
| Settlement date: | Oct. 4
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Distribution: | Regulation S
|
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