—
Cagamas Berhad (“Cagamas” or the “Company”), the National Mortgage Corporation of Malaysia, announced it had successfully raised RM2.2 billion in October. This amount comprises RM400 million in 5-year Islamic Medium Term Notes (IMTNs), RM100 million in 1-year Conventional Medium Term Notes (CMTNs), RM575 million in Islamic Commercial Papers (ICPs), and RM150 million in Conventional Commercial Papers (CCPs). An additional SGD305 million (equivalent to RM1 billion) was issued in 1-year Singapore Dollar Medium Term Notes (SGD EMTNs) through the Company’s wholly-owned subsidiary, Cagamas Global P.L.C.
Kameel Abdul Halim, President/Chief Executive Officer of Cagamas said, “The successful conclusion of our fundraising activities in October, despite continued volatility in the local and global fixed income market, reaffirms our role as a secondary mortgage corporation in providing liquidity to primary lenders of home financing and housing loans.”
Kameel added, “Demand for Cagamas’ foreign currency bonds remains resilient across diverse investor profiles. The SGD issuance was fully subscribed by foreign investors, which include asset managers and financial institutions. This latest issuance has brought the cumulative SGD-denominated issuance for the year to SGD525 million, with total funds raised by Cagamas reaching RM15.2 billion as at October 2024.”
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.
Release ID: 89145939
In the event of detecting errors, concerns, or irregularities in the content shared in this press release that require attention or if there is a need for a press release takedown, we kindly request that you inform us promptly by contacting [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our dedicated team will promptly address your feedback within 8 hours and take necessary actions to resolve any identified issues diligently or guide you through the removal process. Providing accurate and dependable information is our utmost priority.
Source : Cagamas Raised RM2.2 Billion in October Amid Challenging Market Environments
The information provided in this article was created by MarketersMEDIA Newswire, our news partner. The author's opinions and the content shared on this page are their own and may not necessarily represent the perspectives of Siam News Network.