KUALA LUMPUR: The national mortgage corporation Cagamas Bhd has announced a RM2bil combined issuances of bonds and sukuk.
The issuances comprise RM700mil three-month conventional commercial papers (CCPs), RM300mil Islamic commercial papers (ICPs), RM500mil one-year Islamic medium-term notes (IMTNs) and RM500mil one-year conventional medium-term notes (MTNs).
In a statement, Cagamas said proceeds from the issuances would be used to fund the purchase of housing loans and house financing from the financial system.
The transaction marked the company’s 20th issuance exercise for the year, bringing its year-to-date issuance amount to RM9.32bil.
It also represented the largest amount priced by Cagamas in a single day since November 2013.
To be redeemed at their full nominal value upon maturity, the papers are unsecured obligations of the company, ranking pari passu or on equal footing with all other existing unsecured obligations of Cagamas.
They will be listed and tradable under the Scripless Securities Trading System. — Bernama