Cagamas Concludes Dual Foreign Currency Issuances Within the Same Week

Kuala Lumpur, 28 February 2023 – Cagamas Berhad (“Cagamas” or “the Company”), the National Mortgage Corporation of Malaysia, announced the successful conclusion of a combined RM1.20 billion equivalent worth of issuances, comprising 1-year Singapore Dollar (SGD) 230 million Fixed Rate Medium Term Notes (SGD EMTNs) and 1-year Hong Kong Dollar (HKD) 800 million Fixed Rate Medium Term Notes (HKD EMTNs). Proceeds from the issuances will be used to fund house financing from the domestic financial system.

“Consistent monitoring on comparative advantages between issuance of foreign and domestic currencies, coupled with on-going engagement with international investors led to the successful conclusion of the issuances. Despite the global bond markets continuing to be under pressure due to the concern of inflation remaining elevated, both the SGD and HKD denominated issuances were competitively priced and subscribed by a diverse range of foreign investors,” said President/Chief Executive Officer, Datuk Chung Chee Leong.

“The SGD issuance also represents Cagamas’ largest SGD issuance in a single tranche, which brings the total funds raised for the year to RM2.02 billion,” added Datuk Chung.

Both SGD and HKD denominated bonds, issued via the Company’s wholly-owned subsidiary, Cagamas Global P.L.C. are fully and unconditionally guaranteed by Cagamas, ranking pari passu with all other existing unsecured obligations of the Company.