KUALA LUMPUR: Cagamas Bhd has issued RM1.1 bil debt securities to fund mortgage loans and Islamic house financing in the financial system.
The issuances comprise RM300 mil three-year conventional medium-term notes (CMTNs), RM500 mil three-month conventional commercial papers (CCPs) and RM300 mil three-year Islamic medium-term notes (IMTNs).
President and CEO Datuk Chung Chee Leong said on Dec 12 that the conclusion of its 24th and 25th issuance exercises for this year brings the 2019 total to RM9.04 bil comprising RM6.04 bil conventional bonds and RM3.00 bil sukuk.
Its CMTNs and IMTNs are competitively priced at final coupon or profit rate of 3.38% with 25 to 33 basis points (bps) over Malaysian Government Securities (MGS)/MG Investment Issues (MGII) and five bps above government-guaranteed (GG) bonds and sukuk of equivalent tenure.
“Riding on the strong demand for Cagamas papers, the company has also priced RM500 mil three-month CCPs at a competitive pricing level of the corresponding three-month Kuala Lumpur Interbank Offered Rate benchmark rate or equivalent to 3.35% on the pricing date”, he said. – Bernama
