Kuala Lumpur, 1 June 2023 – Cagamas Berhad (“Cagamas” or “the Company”), the National Mortgage Corporation of Malaysia, announced the successful conclusion of an aggregate RM3.42 billion equivalent worth of funds raised, comprising a total of RM943 million 3-month funding via Conventional Commercial Papers (CCPs), Islamic Commercial Papers (ICPs) and Repurchase Agreements (REPO), RM2.13 billion 1-year, 2-year, 3- year and 10-year Conventional Medium Term Notes (CMTNs) and SGD103 million (RM350 million equivalent) 1-year Singapore Dollar Medium Term Notes (SGD EMTNs).
“We are pleased with the successful conclusion of the issuances from both domestic and foreign space, notwithstanding global concerns on the US debt ceiling issues as investors continue to seek for high investment grade papers. Proceeds raised from the issuances will be used to fund the purchase of housing loans and house financing from the domestic financial system, reflecting the ongoing financial intermediatory role performed by the Company in the domestic banking system,” said President/Chief Executive Officer, Datuk Chung Chee Leong.
“Total funds raised by the Company to-date stands at RM9.76 billion. Cagamas has concluded a total of six foreign currency issuances including SGD and Hong Kong Dollar amounting to RM2.35 billion equivalent, year-to-date,” added Datuk Chung.
The SGD denominated bonds, issued via the Company’s wholly-owned subsidiary, Cagamas Global P.L.C. 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.