Cagamas concludes issuance of RM1.09bil bonds, sukuk

KUALA LUMPUR: Cagamas Bhd has concluded the issuance of RM1.09bil worth of bonds and Sukuk, comprising RM735mil one-year Islamic Medium Term Notes (IMTNs), RM200mil three-year IMTNs and RM150mil five-year Conventional Medium Term Notes (CMTNs).

The national mortgage corporation said proceeds from the issuance would be used to fund the purchase of housing loans and house financing from the domestic financial system.

"We are pleased with the successful conclusion of the IMTNs and CMTNs issuances despite the cautious market sentiment in view of the domestic political landscape prior to and after the 15th General Election.

"The issuances were reasonably priced above the corresponding Malaysian Government Securities and Malaysian Government Instrument Issue,” said president and CEO Datuk Chung Chee Leong in a statement.

Cagamas said the completion of the current exercise brings the company’s year-to-date issuances from both domestic and international markets to RM19.17bil, which brings it on track to achieve at least RM20bil issuance of bonds and sukuk this year.

It added that the papers will be redeemed at their full nominal value upon maturity, are unsecured obligations of the Company, ranking pari passu with all other existing unsecured obligations of the Company.

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Cagamas , sukuk , issuance , Chung Chee Leong


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