Wednesday 10 Apr 2024
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KUALA LUMPUR (Nov 3): Cagamas Bhd, the National Mortgage Corporation of Malaysia, has hit total bond issuances of RM4.9 billion for the year.

This followed the completed issuances of the multiple Ringgit bonds comprising the RM1 billion sukuk and the RM1.06 billion conventional medium term notes (MTN).

The sukuk has a dual one-year and three-year maturity, while the conventional MTN offered a single three-year tenure.

Cagamas’ President and CEO Chung Chee Leong, in a statement today, said that proceeds from the issuances will be used to fund the purchase of Islamic and conventional financing from the financial system.

On the international front, Cagamas has also completed the issuance of HK$1 billion (RM426.25 million) Hong Kong bonds, with a maturity of 3.5 years.

It marked the second foreign currency issuance for Cagamas.

Chung said that the benchmark size foreign currency and multiple Ringgit issuances underscored international and domestic investors’ confidence in the company’s credit strength and ability to raise benchmark size funding.

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