by DayakDaily Team
KUCHING, June 5: Affin Group has debuted in the US dollar bond market with the issuance of US$300 million (RM1.27 billion) senior unsecured notes under its US$2 billion (RM8.46 billion) euro medium term note (EMTN) programme.
According to a news report by Bernama, the bank said the issuance attracted strong global demand, with the final order book exceeding US$1 billion across 67 investor accounts, representing 3.5 times oversubscription.
It also noted that the issuance follows the establishment of the EMTN programme and Affin’s recent inaugural international credit rating of A3 (Stable) from Moody’s Investor Services, Inc.
“The notes were priced at 105 basis points (bps) over the five-year US Treasury yield, offering a fixed rate of 5.112 per cent per annum and rated A3 (Stable) by Moody’s Investor Services Inc, affirming the bank’s robust credit profile and stable outlook,” it said.
Affin Group president and group chief executive officer Datuk Wan Razly Abdullah commented the bank’s debut in the US dollar bond market marks a significant progression in the group’s capital markets strategy, drawing strong global investor demand.
“The overwhelming response underscores investor confidence in our fundamentals and validates the credibility we have established,” he added.
Geographically, the distributions comprised of 87 per cent to Asia, 11 per cent to Europe, Middle East, and Africa (EMEA), and two per cent to offshore US investors.
By investor type, Affin stated that the notes were allocated 72 per cent to asset, fund managers/insurance, 24 per cent to banks, and four per cent to private banks/others.
According to TheEdge Malaysia, Affin Hwang Investment Bank Bhd, along with HSBC, MUFG Securities Asia Ltd (Singapore branch), and Standard Chartered Bank, served as joint lead managers and bookrunners, with DBS Bank Ltd as co-manager. – DayakDaily
