Affin Group debuts in US bond market with US$300mil note issue
KUALA LUMPUR: Affin Group made its debut in the US dollar bond market with the issuance of the senior unsecured notes with a nominal value of US$300 million (RM1.27 billion) under its US$2 billion (RM8.46 billion) euro medium term note (EMTN) programme.
The bank said in a statement today 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.
"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 said.
Affin said the distributions geographically comprised 87 per cent to Asia, 11 per cent to Europe, Middle East, and Africa (EMEA), and two per cent to offshore US investors.
It said that by investor type, 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.
Meanwhile, Affin Group president and group chief executive officer Datuk Wan Razly Abdullah said 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.
"Guided by the Affin Axelerate 2028 (AX28) Plan, the group remains committed to unlocking long-term value through unrivalled customer service, digital leadership and responsible banking with impact,' he added. - Bernama
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