Citi and CIMB debut Malaysian CDS

Citigroup and Malaysian bank CIMB have conducted the first interbank credit default swap denominated in Malaysian ringgit.

The 25 million ringgit ($7.2 million) swap has a maturity of one year, according to parties familiar with the deal, and is referenced on Projek Lebuhraya Utara Selatan, a large infrastructure developer in Malaysia.

“The development of the ringgit credit derivatives market is critical as it will enhance the efficiency of the Malaysian corporate bond and loan markets, and wil

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