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
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….