Auction Results: GII 8/25 New Issue
· Sturdy bids. Today’s 7.5y GII 8/25 new issue drew a solid 2.284x bid/cover on an expected total size of MYR4b (MYR3b auction + MYR1b private placement). Participation in GII auctions are predominantly local driven hence this auction was little affected by the recent pressure on the Ringgit. In addition, the appeal of GII 8/25 as the new 7y GII benchmark likely underpinned demand.
· Successful yields came to an average of 4.128% but the high tailed slightly cutting off at 4.138% compared to the pre-auction WI range of 4.13/12%. Lowest successful yield was 4.110%.
· Next auction is the reopening of 10y MGS 11/27 for a size of MYR3.5b we estimate.
Bid to cover: 2.284
Highest yield: 4.138%
Average yield: 4.128%
Lowest yield: 4.110%
Cut off: 55%
Regards,
Winson Phoon, ACA
(65) 6231 5831
Se Tho Mun Yi
(603) 2074 7606
This message is intended only for the use of the person to whom it is expressly addressed and for the purpose of the subject of this email and may contain information that is confidential and legally privileged. If you are not the intended recipient, you are hereby notified that any use, reliance on, reference to, review, disclosure or copying of the message and the information it contains for any purpose is prohibited. If you have received this message in error, please notify the sender by reply e-mail of the misdelivery and delete all its contents.
Opinions, conclusions and other information in this message that do not relate to the official business of Malayan Banking Berhad shall be understood as neither given nor endorsed by it.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.