PETALING JAYA: Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank) has completed the book building exercise for RM600 million government guaranteed Islamic medium term notes (IMTNs).
The bank said it received overwhelming demand for the IMTNs, which enabled it to secure several cornerstone investors to close the book at competitive pricing of between 45 basis points and 31 basis points above Malaysian Government Securities (MGS) in the mid-range of the pricing guidance.
The IMTNs have tenures of five and seven years and final pricing ranging from 4.03% to 4.10%.
“The buzzing interest from financial institutions and asset management companies submitted a total bid-to-cover ratio of over three times or RM1.83 billion of the final order over the issuances size.
“This reflects strong market confidence in SME Bank’s digital and technology transformation plan as part of its mandate to nurture, develop and serve the SMEs in Malaysia in a more holistic and effective manner embracing IR 4.0,” it said.
AmInvestment Bank Bhd, Kuwait Finance House (M) Bhd and Maybank Investment Bank Bhd were the joint lead managers for the transaction.
