Axiata (formerly Telekom Malaysia International) is raising US$300m via the sale of 10-year fixed rate guaranteed senior unsecured notes.
The joint global coordinators for the offering are Goldman Sachs and Morgan Stanley. The joint bookrunners and joint…
Axiata (formerly Telekom Malaysia International) is raising US$300m via the sale of 10-year fixed rate guaranteed senior unsecured notes.
The joint global coordinators for the offering are Goldman Sachs and Morgan Stanley. The joint bookrunners and joint lead managers for the issue are Goldman Sachs, Morgan Stanley and CIMB Bank.
The proceeds of the debt facility will be used to refinance existing borrowings.
The notes will be issued by a special subsidiary and backed by Axiata.
The facility is part of Axiata’s plan to enhance capital management after its demerger from Telekom Malaysia.
Axiata will list the notes on the Stock Exchange of Hong Kong and Malaysia’s Labuan International Financial Exchange.
Axiata CEO Jamaludin Ibrahim said: “The exercise reinforces Axiata’s commitment to optimise the group’s capital structure. In a short space of time Axiata has gone from deleveraging during the financial crisis to being rated investment grade, enabling us to tap into new sources of funding, namely the international debt capital markets, thus providing the group further financial agility for long term growth.”