KUALA LUMPUR: Cagamas Bhd has continued its optimistic momentum with RM1.195 billion aggregate issuances amidst world market uncertainties.
In a press release, the nationwide mortgage company stated proceeds from the issuances shall be used to fund the acquisition of housing loans and Islamic financing from the home monetary system.
The aggregate issuances comprise RM700 million three-month Conventional Commercial Papers (CCPs), RM345 million three-month Islamic Commercial Papers (ICPs) and RM150 million two-year Conventional Medium Term Notes (CMTNs).
President and chief government officer, Datuk Chung Chee Leong stated the ICPs and CCPs had been priced at three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) plus three foundation factors (bps), equal to 2.00 per cent based mostly on the KLIBOR fixing on the pricing date.
“The two-year CMTNs had been priced at 2.86 per cent. The spreads had been 20 to 21 bps above the corresponding Malaysia Islamic Treasury Bills (MITB) and Malaysia Treasury Bills (MTB) for the three-month ICPs and CCPs papers.
“As for the two-year CMTNs, the unfold was 45 bps above the Malaysian Government Securities (MGS),” he stated.
Chung stated the concluded issuances had been priced by way of a non-public placement train, which brings the corporate’s aggregate issuances for the 12 months to RM2.53 billion.
The papers, which shall be redeemed at their full nominal worth upon maturity, are unsecured obligations of the corporate, rating pari passu with all its different present unsecured obligations.
They shall be listed and tradable underneath the Scripless Securities Trading System. – Bernama
