Labuan, Thursday, 16 March 2006. Labuan International Financial Exchange (LFX) recorded its 36th listing today with the listing of Penerbangan Malaysia Berhad’s (PMB) USD1.0 billion Guaranteed Notes.

The Guaranteed Notes, due in 2016, are guaranteed by the Government of Malaysia. With a coupon rate of 5.625% per annum, the Guaranteed Notes have been rated A(3) by Moody’s Investors Service, Inc and A(-) by Standard & Poor’s Rating Services.

The listing of the Guaranteed Notes signifies the continued confidence of Government Linked Companies (GLCs) on LFX. 

“The listing of the Guaranteed Notes further reflects the increasing acceptance of LFX as a premier offshore exchange by Malaysian corporations,” said Chairman of LFX Board, Encik Yusli Mohamed Yusoff who is also the Chief Executive Officer of Bursa Malaysia Berhad. “We certainly welcome other potential GLCs to emulate PMB’s move in listing their foreign currency instruments on LFX and also to take advantage of the opportunities offered by LFX to the offshore financial activities in Labuan International Offshore Financial Centre (IOFC),” added Yusli.

The listing sponsor for the Guaranteed Notes is CIMB (L) Limited (“CIMB Labuan”). Licensed by LFX, a listing sponsor is primarily responsible to arrange for the listing of instruments on LFX and for any subsequent post listing obligations arising.

Commerce International Merchant Bankers Berhad, Deutsche Bank Securities and Morgan Stanley are the joint bookrunners for the Notes.

The Issuer will use the net proceeds from the sale of the Notes to repay existing debt, to finance the acquisition of aircraft, for working capital and for general corporate purposes.

With the latest listing, LFX’s range of financial instruments now comprises six (6) Sukuks, six (6) open-ended funds and twenty-one (22) conventional debt securities and exchangeable bonds and two (2) preference shares. This brings the total market capitalisation of LFX to USD13.45 billion.