KUALA LUMPUR: Cagamas Bhd continued its positive momentum with global issues of RM1.195 billion amid uncertainties in global markets.
In a statement, the national mortgage corporation said the proceeds from the issuances will be used to fund the purchase of home loans and Islamic financing from the national financial system.
Total issues include RM700 million three-month conventional commercial paper (CCP), RM345 million three-month Islamic commercial paper (ICP) and RM150 million two-year conventional medium-term note (CMTN). .
Chairman and CEO Datuk Chung Chee Leong said ICPs and CCPs are priced at the three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) plus three basis points (bps), or 2.00%. based on the fixing of the KLIBOR on the pricing. Dated.
“Two-year CMTNs were priced at 2.86%. Spreads were 20 to 21 basis points above Malaysian Islamic Treasury Bills (MITB) and the corresponding Malaysian Treasury Bills (MTB) for three-month ICP and CCP papers.
“As for the two-year CMTNs, the spread was 45 basis points above Malaysian government securities (MGS),” he said.
Chung said the completed issues were secured via a private placement exercise, bringing the company’s total issues for the year to RM2.53 billion.
The Notes, which will be redeemed at full face value at maturity, are unsecured obligations of the Company, ranking pari passu with all of its other existing unsecured obligations.
They will be listed and traded under the Scripless Securities Trading System. – Bernama