Kuala Lumpur, 06 July 2023 – Cagamas Berhad (“Cagamas” or “the Company”), the National Mortgage Corporation of Malaysia, announced the successful conclusion of an aggregate RM3.21 billion equivalent worth of funds raised, comprising a total of RM390 million 3-month funding via Conventional Commercial Papers (CCPs), RM100 million multi tenure ASEAN Sustainability Bonds, RM1.36 billion multi tenure Islamic Medium Term Notes (IMTNs), RM850 million 3-year Conventional Medium Term Notes (CMTNs) and SGD150 million (RM511.95 million equivalent) 1-year Singapore Dollar Medium Term Notes (SGD EMTNs).
President/ Chief Executive Officer, Datuk Chung Chee Leong said, “Demand for investment grade papers, similar to Cagamas’, remain firm; while global markets continue to weigh in the prospect of longer than anticipated stiff monetary policy stance by the Federal Reserve. Proceeds raised from the issuances will be used to fund the purchase of housing loans and Islamic home financings from the domestic financial system, reflecting continued provision of liquidity by the Company to the domestic banking system.”
“Total funds raised by the Company stands at RM12.97 billion. Year-to-date, Cagamas has concluded six SGD issuances and one HKD issuance, amounting to RM2.86 billion equivalent in foreign currencies,” he added.
The SGD denominated bonds, issued via the Company’s wholly-owned subsidiary, Cagamas Global P.LC. are fully and unconditionally guaranteed by Cagamas while the Ringgit issuances, which 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.