Cagamas Issues MYR 200 Million Islamic Medium-Term Notes Amid Lockdown for Working Capital Purposes 

The National Mortgage Corporation of Malaysia, also known as Cagamas, has announced the issuance of MYR 200 million five-year Islamic Medium-Term Notes (IMTN), according to a company statement released on the 15th of June 2021.

Why it Matters?

Proceeds from the IMTN issuance will be used for Cagamas’ working capital purposes. According to Datuk Chung Chee Leong, Cagamas President and Chief Executive Officer, the company is pleased with the successful pricing of the issuance amid stricter measures implemented in Malaysia for the Movement Control Order 3.0 (MCO 3.0). Leong added that although the local bond market sentiment has improved as seen by buying activities, the impact on growth remains uncertain following MCO 3.0.

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