KUALA LUMPUR: Cagamas Bhd, the National Mortgage Corporation of Malaysia, today announced its combined issuances of conventional medium term notes (CMTN) and Islamic medium term notes (IMTN) totaling RM825 million.
The respective issuances comprised one-year RM800 million CMTN and one-year RM25 million IMTN. Proceeds from the issuances will be used to fund the purchase of housing loans and Islamic housing financing from the financial system.
President and CEO Datuk Chung Chee Leong (pix) said despite expectations for greater external risks arising from heightened volatility within the global markets due to further escalation in trade tension between US and China coupled with the Federal Reserve rate cuts, both CMTN and IMTN were successfully concluded at competitive pricing.
“The initial RM600 million CMTN which was conducted via public offering, received a commendable demand that allowed the company to upsize to RM800 million and tighten its pricing by 5 basis points from the high of the initial price guidance of 3.45% to 3.40%. The RM25 million IMTN were concluded via private placements and priced at the same level as the CMTN,” said Chung in a statement.
He added that the conclusion of the deal brings the company’s year-to-date issuance to RM4.6 billion.
The papers, which will be redeemed at their full nominal value upon maturity, are unsecured obligations of the company, ranking pari passu among themselves and with all other existing unsecured obligations of the company.
source https://www.thesundaily.my/business/cagamas-issues-rm825m-bonds-sukuk-AF1241046
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