Home English News Business Cagamas concludes Malaysia’s first floating-rate bonds based on MYOR reference

Cagamas concludes Malaysia’s first floating-rate bonds based on MYOR reference

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Cagamas concludes Malaysia’s first floating-rate bonds based on MYOR reference

KUALA LUMPUR: The nationwide mortgage company, Cagamas Bhd has concluded its RM200 million one-year floating price standard medium-term notes (CMTNs), the first floating price bonds based on Malaysia in a single day price (MYOR) reference.

MYOR is the brand new various reference price (ARR) for Malaysia launched by Bank Negara Malaysia (BNM) in September 2021.

In a press release at present, Cagamas mentioned the proceeds can be used to fund the acquisition of housing loans from the monetary system.

“The conclusion of the RM200 million one-year CMTNs on the corresponding MYOR plus 83 foundation factors brings the corporate’s year-to-date issuance quantity to RM8.7 billion,” mentioned president and chief govt officer Datuk Chung Chee Leong.

He mentioned the constructive conclusion of the issuance mirrored the corporate’s robust dedication to supporting new developments launched by BNM for the monetary markets.

“This newest issuance can be an necessary step in driving the adoption of latest benchmark charges for monetary devices in Malaysia.

“We will proceed to work carefully with the regulators, business companions and traders for a clean transition in relation to ARR,” he mentioned.

The issuances — which will likely be redeemed at their full nominal worth upon maturity — are unsecured obligations of the corporate, rating pari passu with all different current unsecured obligations of the corporate. – Bernama



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