Kuala Lumpur, 23 December 2019 – Cagamas Berhad (“Cagamas” or “the Company”), the National Mortgage Corporation of Malaysia, announced the combined issuance of RM1.2 billion bonds and sukuk, comprising RM600 million Islamic Commercial Papers (ICPs), RM200 million Conventional Commercial Papers (CCPs) and RM400 million Islamic Medium Term Notes (IMTNs). The proceeds from ICPs, CCPs and IMTNs issuance will be used to fund the purchases of mortgage loans and Islamic house financing from the domestic financial system.
“We are pleased to conclude the year with yet another successful issuances representing the Company’s 26th issuance exercise which brings the aggregate issuances for the year to RM10.2 billion, marking the Company’s third consecutive year
surpassing RM10 billion worth of issuances,” said Datuk Chung Chee Leong, President/Chief Executive Officer of Cagamas.
The 6-month CCPs/ICPs was competitively priced at 3.25%, 20 bps above 6-month Malaysia Treasury Bills and 17 bps above Malaysian Islamic Treasury Bills, while the 1-year IMTNs was competitively priced at 3.29%, 26 bps above the corresponding
Malaysia Government Investment Issue.
“It has been an eventful year for both domestic and global markets. The Company remains optimistic as it continues to fulfill its mandate as a financial intermediary between the capital market and the Malaysian housing sector,” 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 among themselves and with all other existing unsecured obligations of the Company. They will be listed and tradable under the Scripless Securities Trading System.