The Thomson Reuters Bond Pricing Agency Malaysia (BPAM) All Bond Index recorded another week of gains to close 0.25 per cent higher at 131.77 this week from 131.44 last week in tandem with the local equity market as its benchmark Kuala Lumpur Composite Index (KLCI) was hit by a record intra-day high on Friday of 1,716.47 on the back of a strengthening ringgit.
The top 10 most actively traded bonds this week were still dominated by sovereign papers. The traded volume expanded to RM19.9 billion from RM16.7 billion last week underpinned by healthy gains across the board for sovereign bonds.
On April 9, 2013, WCT Bhd issued five-year and seven-year bonds which amounted to RM500 million with coupon rates of 4.2 and 4.4 per cent respectively.
On April 10, 2013, Silver Sparrow Bhd issued three three-year bond tranches, which were guaranteed by Maybank, OCBC and Danajamin respectively.
On the same day, Domayne Asset 2 Corporation Bhd issued one 4.3-year bond with a coupon rate of 9.2 per cent to replace the old Domayne issues worth RM33.5 million, which were early redeemed on the same day. This issue was rated A2 by RAM Ratings.
Meanwhile, the tender for the RM2.5 billion new 20-year benchmark MGS maturing April 2033 closed on April 12, 2013 with a bid-to-cover ratio of 2.878 times, highest seen year to date.
In January 2013, GMV Borcos Sdn Bhd (GMV Borcos) acquired the remaining 65 per cent-stake it did not own in Borcos from AWH Equity Holdings Sdn Bhd.
On April 9, 2013, MARC removed its rating on KMCOB Capital Bhd’s (KMCOB) RM343.1 million Sukuk Murabahah Medium Term notes programme from MARCWatch Negative and affirmed its A+IS(cg) rating on the company.
On April 11, 2013, MARC affirmed the ratings of AAAID and MARC-1ID /AAAID on MISC Bhd’s (MISC) RM2.5 billion Islamic Medium Term notes and RM1.0 billion Murabahah Commercial Papers/Medium Term notes programmes respectively, and concurrently revised the outlook on the ratings to stable from negative.
On April 11, 2013, RAM Ratings downgraded FEC Cables (M) Sdn Bhd’s RM130 million Islamic Medium-Term notes (IMTN) Facility from AA2(s) to A2(s), lifted the Negative Watch on the IMTN and reverted the outlook on the long-term rating to stable.
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