Kuala Lumpur, 15 June 2021 – Cagamas Berhad (“Cagamas” or “the Company”), the National Mortgage Corporation of Malaysia, announced its issuance of RM200 million 5- year Islamic Medium Term Notes (IMTNs). Proceeds from the issuance will be used for the Company’s working capital purposes.
Cagamas President/Chief Executive Officer, Datuk Chung Chee Leong said, “We are pleased with the successful pricing of this issuance amid stricter measures implemented nationwide for the Movement Control Order 3.0 (MCO 3.0), following the rise in COVID-19 cases in recent weeks. While the local bond market sentiment improved as evidenced by buying activities, the impact on growth remains uncertain post MCO 3.0.”
“The RM200 million issuance was concluded via private placement, registering a commendable 48 basis points spread against the Malaysian Government Investment Issues. The new issuance brings the Company’s aggregate issuances for the year to RM6.1 billion,” added Datuk Chung.
The papers, which will be redeemed at their full nominal value upon maturity, are unsecured obligations of the Company, ranking pari passu and with all other existing unsecured obligations of the Company. They will be listed and tradable under the Scripless Securities Trading System.