PETALING JAYA: National mortgage corporation Cagamas Bhd has concluded issuances worth RM4.8bil in October, the highest monthly amount recorded so far in 2023.
The issuances comprise RM180mil three-month Islamic commercial papers, RM3.5bil multi-tenured Islamic medium term notes, RM465mil multi-tenured conventional medium-term notes, one-year S$150mil medium-term notes and RM158mil through other funding avenues.
President and chief executive officer Kameel Abdul Halim said the proceeds raised were used to fund the purchase of Islamic home financing and conventional housing loans from domestic financial institutions.
“The successful conclusion of our fund-raising activities in October, albeit a period marked by global uncertainties in the fixed income market and extreme volatility arising from geopolitical tensions, reflects Cagamas’ commitment to support the domestic financial system.
“This underscores our role in providing liquidity to the primary lenders of home financing and housing loans as a secondary mortgage corporation,” he said in a statement yesterday.
Kameel added that the strong demand from local and foreign investors also enabled the company to price its issuances competitively above the corresponding Malaysian Government Securities.
According to the statement, the company has raised aggregate funds of RM24.03bil year-to-date.
“The Singapore dollar-denominated bonds, issued via the company’s wholly owned subsidiary Cagamas Global PLC, are fully and unconditionally guaranteed by Cagamas,” it said. Cagamas promotes home ownership and growth of the secondary mortgage market in Malaysia. — Bernama
