The Asian Development Bank (ADB) Tuesday launched its 3.8 billion ringgit (1.03 billion U.S. dollars), 15-year Medium Term Note (MTN) Programme in the domestic capital market of Malaysia, an ADB report said.

Simultaneously, ADB also launched its first issuance under the MTN Programme, amounting to 500 million ringgit (136.1 million U.S. dollars) with a maturity of five years. AmMerchant Bank Berhad ( AmMerchant Bank) is the lead arranger of this MTN Programme and lead manager for the first MTN issuance, according to the report.

This issue marks the return of ADB to the Malaysian market after the success of its earlier 400 million ringgit (108.9 million U.S. dollars) Putra bonds issuance in November 2004. ADB was the first supranational to have issued a MYR-denominated bond in the Malaysian capital market, following government initiative in October 2004.

ADB and AmMerchant Bank are conducting an investors' roadshow Tuesday to present the MTN Programme and the first MTN issuance to institutional investors in Kuala Lumpur. Book-building will follow immediately and pricing will take place no later than Thursday, 20 April 2006. The MTN Programme is the first established by a supranational in the Malaysian capital market.

Since early 2004, ADB has completed five market-opening transactions in the region's local currency bond markets, including India, Malaysia, the People's Republic of China, the Philippines, and Thailand.

Source: Xinhua