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This is a simple process flow of issuing bonds to the market
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©Copyright BOND PRICING AGENCY MALAYSIA SDN.BHD (FORMERLY BONDWEB MALAYSIA SDN BHD). - All rights reserved.
PROCESS FLOW OF THE PDS ISSUANCE PROCESS
©Copyright BOND PRICING AGENCY MALAYSIA SDN.BHD (FORMERLY BONDWEB MALAYSIA SDN BHD). - All rights reserved.
Needs analysis
Business and financial justification to raise capital
©Copyright BOND PRICING AGENCY MALAYSIA SDN.BHD (FORMERLY BONDWEB MALAYSIA SDN BHD). - All rights reserved.
Appointment of a Financial Advisor/Lead Arranger
Process of identification and appointment
©Copyright BOND PRICING AGENCY MALAYSIA SDN.BHD (FORMERLY BONDWEB MALAYSIA SDN BHD). - All rights reserved.
Business and financial analysis
– Preparing the business write-up– Preparing the cash flows
©Copyright BOND PRICING AGENCY MALAYSIA SDN.BHD (FORMERLY BONDWEB MALAYSIA SDN BHD). - All rights reserved.
Bond structuring
– Structuring the optimised bond structure – Looking out for structuring requirements that could be
“traps”
©Copyright BOND PRICING AGENCY MALAYSIA SDN.BHD (FORMERLY BONDWEB MALAYSIA SDN BHD). - All rights reserved.
Rating exercise
– Managing expectations– Preparing the information package for the rating team– Anticipating the focus of the rating team
©Copyright BOND PRICING AGENCY MALAYSIA SDN.BHD (FORMERLY BONDWEB MALAYSIA SDN BHD). - All rights reserved.
Formalising relationships with other stakeholders
– Trustee– Monitoring accountant– Shariah experts (only if issuance in a sukuk)
©Copyright BOND PRICING AGENCY MALAYSIA SDN.BHD (FORMERLY BONDWEB MALAYSIA SDN BHD). - All rights reserved.
Legal documentation
– Preparation of the various documentations– Ensuring rights of the issuer as well as investors are
protected
©Copyright BOND PRICING AGENCY MALAYSIA SDN.BHD (FORMERLY BONDWEB MALAYSIA SDN BHD). - All rights reserved.
Approval process
Submitting applications to relevant authorities
©Copyright BOND PRICING AGENCY MALAYSIA SDN.BHD (FORMERLY BONDWEB MALAYSIA SDN BHD). - All rights reserved.
Marketing road show
Promoting the bonds to potential investors
©Copyright BOND PRICING AGENCY MALAYSIA SDN.BHD (FORMERLY BONDWEB MALAYSIA SDN BHD). - All rights reserved.
Tendering process
Finalising the choice of tendering
©Copyright BOND PRICING AGENCY MALAYSIA SDN.BHD (FORMERLY BONDWEB MALAYSIA SDN BHD). - All rights reserved.
Issuance
Seal the deal
©Copyright BOND PRICING AGENCY MALAYSIA SDN.BHD (FORMERLY BONDWEB MALAYSIA SDN BHD). - All rights reserved.
Surveillance
©Copyright BOND PRICING AGENCY MALAYSIA SDN.BHD (FORMERLY BONDWEB MALAYSIA SDN BHD). - All rights reserved.
What’s the priority?
Appointment of a Financial
Advisor/Lead Arranger
Business and financial analysis
Rating exercise
Bond structuring
Formalising relationships
Legal documentation
Marketing road show
Approval process
Tendering process
Issuance
Surveillance
Needs analysis1
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