Friday 19 Apr 2024
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This article first appeared in The Edge Financial Daily on October 5, 2018

KUALA LUMPUR: Cagamas Bhd has concluded its RM1.55 billion combined issuance of three-year tenure conventional and Islamic notes to fund the purchases of mortgage loans and Islamic home financing from the financial system.

They comprise RM800 million three-year conventional medium term notes (CMTNs) and RM750 million three-year Islamic MTNs (IMTNs).

This brings the national mortgage corporation’s year-to-date issuance to an aggregate RM12.3 billion comprising RM4.8 billion CMTNs, RM3.8 billion IMTNs, a combined RM3 billion short-term conventional and Islamic commercial papers and RM650 million equivalent in foreign currency denominated bonds.

“Both the CMTNs and IMTNs obtained aggressive bids and successfully secured a competitive weighted average price of 4.09%, representing a spread of 49 basis points against the corresponding three-year Malaysian Government Securities,” said Cagamas president and chief executive officer Datuk Chung Chee Leong in a statement yesterday.

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