KUALA LUMPUR: Cagamas Bhd has continued its positive momentum with RM1.195 billion aggregate issuances amidst global market uncertainties.
In a statement, the national mortgage corporation said proceeds from the issuances will be used to fund the purchase of housing loans and Islamic financing from the domestic financial system.
The aggregate issuances comprise RM700 million three-month Conventional Commercial Papers (CCPs), RM345 million three-month Islamic Commercial Papers (ICPs) and RM150 million two-year Conventional Medium Term Notes (CMTNs).
President and chief executive officer, Datuk Chung Chee Leong said the ICPs and CCPs were priced at three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) plus three basis points (bps), equivalent to 2.00 per cent based on the KLIBOR fixing on the pricing date.
"The two-year CMTNs were priced at 2.86 per cent. The spreads were 20 to 21 bps above the corresponding Malaysia Islamic Treasury Bills (MITB) and Malaysia Treasury Bills (MTB) for the three-month ICPs and CCPs papers.
"As for the two-year CMTNs, the spread was 45 bps above the Malaysian Government Securities (MGS)," he said.
Chung said the concluded issuances were priced via a private placement exercise, which brings the company’s aggregate issuances for the year to RM2.53 billion.
The papers, which will be redeemed at their full nominal value upon maturity, are unsecured obligations of the company, ranking pari passu with all its other existing unsecured obligations.
They will be listed and tradable under the Scripless Securities Trading System. - Bernama
In a statement, the national mortgage corporation said proceeds from the issuances will be used to fund the purchase of housing loans and Islamic financing from the domestic financial system.
The aggregate issuances comprise RM700 million three-month Conventional Commercial Papers (CCPs), RM345 million three-month Islamic Commercial Papers (ICPs) and RM150 million two-year Conventional Medium Term Notes (CMTNs).
President and chief executive officer, Datuk Chung Chee Leong said the ICPs and CCPs were priced at three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) plus three basis points (bps), equivalent to 2.00 per cent based on the KLIBOR fixing on the pricing date.
"The two-year CMTNs were priced at 2.86 per cent. The spreads were 20 to 21 bps above the corresponding Malaysia Islamic Treasury Bills (MITB) and Malaysia Treasury Bills (MTB) for the three-month ICPs and CCPs papers.
"As for the two-year CMTNs, the spread was 45 bps above the Malaysian Government Securities (MGS)," he said.
Chung said the concluded issuances were priced via a private placement exercise, which brings the company’s aggregate issuances for the year to RM2.53 billion.
The papers, which will be redeemed at their full nominal value upon maturity, are unsecured obligations of the company, ranking pari passu with all its other existing unsecured obligations.
They will be listed and tradable under the Scripless Securities Trading System. - Bernama
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