Dear Readers,
Highlights
of the report as follow:-
|
· The new issuance of
the 5-year MGII maturing 14 April 2022 with a size of RM4.0bil recorded a
relatively strong book-to-cover (BTC) ratio of 2.773 times (Table 1). This
was the highest BTC ratio since the last new issuance in February 2016 of
2.846%. We find the spread of the 5-year MGII/MGS of 15.3 basis points to be
higher compared to the average 5-year MGII/MGS spread of 14.6 basis from 2010
to 2017 (Chart 1). We notice the strong demand came from both local and
foreign buying.
· The next tender to watch is the re-opening of the
15-year MGS in April (Table 2). It will be the second 15-year MGS re-opening
for 2017 where the last was the 15-year MGS ‘06/31 in January 2017 which
reported a 2.503 times BTC ratio.
|
Friday, April 14, 2017
· The new issuance of the 5-year MGII maturing 14 April 2022 with a size of RM4.0bil
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