Thursday, May 9, 2013

Moolah: Goldman Earned $500 Million Arranging Malaysia Bond

Why is this man grinning so strangely?  Goldman Sachs made about $500 million arranging three bond sales in the past year for 1Malaysia Development Bhd. (0206021D), the state investment fund led by Prime Minister Najib Razak, a person familiar with the matter told Bloomberg.

The total is almost as much as Malaysia, Southeast Asia’s third-largest economy, pays each month on its debt and compares with Goldman’s record $694 million of global bond underwriting fees in the first quarter, according to data compiled by Bloomberg. Goldman, the securities firm with the fastest-growing investment-banking fees, arranged $6.5 billion of bond sales for the fund….

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