Cagamas Issues Combined Sustainability SRI Sukuk and IMTN Worth MYR 450 Million

The National Mortgage Corporation of Malaysia, also known as Cagamas, has priced a combined issuance of its inaugural ASEAN Sustainability SRI Sukuk (SRI Sukuk) and Islamic Medium-Term Notes (IMTN) valued at MYR 450 million, according to a statement released by the company recently.

Issued under Cagamas’ existing MYR 60 billion IMTN programme, the offering comprises of a three-year MYR 100 million SRI Sukuk and MYR 350 million IMTN based on the Islamic principle of Murabahah. Proceeds of the SRI Sukuk will be used to fund Islamic financing with regard to affordable housing, whereas proceeds from the IMTN will be utilised to fund Islamic house financing.

The issuance, which wa...