KUALA LUMPUR – Cagamas Bhd has concluded the issuances of an aggregate RM499 million equivalent worth of sukuk and bonds in the domestic and international markets, bringing the total funds raised by the company to date in 2023 to RM6.34 billion.
The issuances comprised RM200 million in two-year Islamic medium-term notes (IMTNs) and S$90 million (RM300 million) in three-year Singapore dollar fixed-rate medium-term notes, the national mortgage corporation said in a statement today.
President and chief executive officer Datuk Chung Chee Leong said Cagamas is pleased with the issuances as demand for high-grade papers continued to gain traction amid uncertainties in the US 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 the continued provision of liquidity by the company to the domestic banking system,” he said.
Chung said the conclusion of the Singapore dollar issuance brought the total cumulative year-to-date Singapore dollar-denominated issuance to S$470 million while the two-year IMTNs were priced via a private placement exercise. – Bernama, May 2, 2023
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