Good
Afternoon,
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v The
re-opening of 30-year MGS with an issuance size of RM2.5 billion registered a
decent book-to-cover ratio (BTC) of 2.369 times. Buyers were mostly local
players primarily of pension funds, life insurance and selective foreign
buying over rates differential play and BREXIT related concerns.
v Compared
to equivalent past MGS issuance in July 2015, this MGS re-opening also
attracted higher BTC. The average yield of this MGS of 4.613% was lower
against 4.725% in July 2015 and 4.715% in September 2014.
v Next
tender to watch is the re-opening of 15-year MGS 06/31 in July 2016.
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