KUALA LUMPUR: Malaysia has enlisted a group of banks to arrange a planned US$1 billion dollar-bond sale for refinancing, marking its first return to the US currency market in five years.
The country, rated A- by S&P Global Ratings, has gathered lenders including CIMB Group Holdings Bhd, HSBC Holdings Plc, and JPMorgan Chase & Co, to work on the potential issuance, according to people familiar with the matter.
The banks are preparing to begin the sales process in the coming weeks, the people said, with timing subject to market conditions.
Malaysia last tapped the dollar bond market in 2021, raising US$1.3 billion.
The government sent a request for proposals to banks for a potential offering, a spokesman for the finance ministry said in response to emailed questions from Bloomberg News in January.
The proceeds, among others, will be used for the dollar bonds maturing this year, the spokesman said.