PETALING JAYA: Cagamas Bhd has concluded an aggregate RM1.7bil equivalent worth of issuances from both the domestic and international markets.
These comprise RM300mil three-month conventional commercial papers (CCPs), RM410mil three-year conventional medium-term notes (CMTNs), RM500mil three-year Islamic medium-term notes (IMTNs), S$60mil (RM199mil) one-year Singapore dollar fixed-rate medium-term notes (SGD EMTNs) and S$90mil (RM299mil) two-year SGD EMTNs.
President and chief executive officer Datuk Chung Chee Leong said the proceeds from the issuances will be used to fund the purchase of housing loans and house financing from the domestic financial system.
The three-year CMTNs and IMTNs were successfully concluded via a book-building exercise and garnered a healthy bid-to-cover ratio of 2.1 times.
According to Chung, this allowed the company to tighten the pricing by three basis points from an initial pricing of 3.93% to 3.90%.
“The book-building exercise saw participation from a diversified pool of investors, mainly from financial institutions, asset managers and insurance companies,” he said in a statement.
Meanwhile, the CCPs and SGD issuances were priced via a private placement exercise.
