Auction Results: MGS 11/27 Reopening
· Solid bids. The 10y MGS 11/27 reopening garnered a robust bid/cover of 2.066x on a slightly larger-than-expected total size of MYR4b (MYR3.5b auction + MYR0.5b private placement). Interest to participate in this auction came amid a rebound in sentiment this morning as the global bond selloff appeared to have stalled as higher yield levels start to attract some investors.
· Average of successful yields came to 4.055% and the high cut off at 4.064%, a marginal tail compared to the pre-auction WI range of 4.06/05%. The lowest successful yield was 4.036%.
· First auction in March will be a reopening of 30y GII 5/47 at an estimated size of MYR2b.
Bid to cover: 2.066
Highest yield: 4.064%
Average yield: 4.055%
Lowest yield: 4.036%
Cut off: 90%
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Regards,
Winson Phoon, ACA
(65) 6231 5831
Se Tho Mun Yi
(603) 2074 7606
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