Cagamas Issues MYR 300 Million Sukuk Through a Private Placement

Cagamas Berhad (Cagamas), the National Mortgage Corporation of Malaysia has issued MYR 300 million worth Islamic commercial papers as a part of an overall MYR 1 billion combined issuance. Apart from the Sukuk, the issuance also included a MYR 500 million conventional medium term note (CMTN) as well as a MYR 200 million conventional commercial paper (CCP).  

In a statement, Cagamas said proceeds from the respective issuances would be used to fund the purchases of mortgage financings or house financing from the financial system.

Cagamas stated that the Sukuk and conventional securities will be redeemed at their full nominal value upon maturity. The statement also added that these issua...