Cagamas  issues  RM825mil bonds, sukuk
Published on: Saturday, August 10, 2019
By: Bernama

Kuala Lumpur: The National Mortgage Corporation of Malaysia, Cagamas Bhd Friday announced its combined issuances Conventional Medium Term Notes (CMTN) and Islamic Medium Term Notes (IMTN) totalling RM825 million.

In a statement Friday, it said the issuance comprised one-year RM800 million CMTN and one-year RM25 million IMTN.

Cagamas said the proceeds from the issuance would be utilised to fund the purchase of housing loans and Islamic housing financing from the financial system.

“Despite expectations for greater external risks arising from heightened volatility within the global markets due to further escalation in trade tension between US and China coupled with the Federal Reserve rate cuts, both CMTN and IMTN were successfully concluded at competitive pricing,” it said.

President and chief executive officer Datuk Chung Chee Leong said the initial RM600 million CMTN, which was conducted via public offering, received a commendable demand that allowed the company to upsize to RM800 million and tighten its pricing by five basis points from the high of the initial price guidance of 3.45 per cent to 3.40 per cent.

“The RM25 million IMTN were concluded via private placements and priced at the same level as the CMTN.

“The conclusion of the deal brings the company’s year-to-date issuance to RM4.6 billion,” he added. – Bernama 


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