Kuala Lumpur, 2 May 2023 – Cagamas Berhad (“Cagamas” or “the Company”), the National Mortgage Corporation of Malaysia, announced the successful conclusion of an aggregate RM499 million equivalent worth of issuances, comprising RM200 million 2-year Islamic Medium Term Notes (IMTNs) and SGD90 million 3-year Singapore Dollar Fixed Rate Medium Term Notes (SGD EMTNs).
“We are pleased with the successful conclusion of the issuances in both domestic and international markets, as demand for high grade papers continue to gain traction amid uncertainties in the United States banking sector, coupled with expectations of further rate hikes albeit at a softer pace. Proceeds raised from the issuances will be used to fund the purchase of housing loans and house financings from the domestic financial system, reflecting continued provision of liquidity by the Company to the domestic banking system,” said President/Chief Executive Officer, Datuk Chung Chee Leong.
“Conclusion of the SGD issuance brings the total cumulative year-to-date SGD denominated issuance to SGD470 million while the 2-year IMTNs were priced via a private placement exercise. Total funds raised by the Company to-date in 2023 stands at RM6.34 billion,” added Datuk Chung.
The SGD denominated bonds, issued via the Company’s wholly-owned subsidiary, Cagamas Global P.LC. are fully and unconditionally guaranteed by Cagamas while the Ringgit issuances, which will be redeemed at their full nominal value upon maturity, are unsecured obligations of the Company, ranking pari passu with all other existing unsecured obligations of the Company.