Cagamas Issues MYR 450 Million of IMTN and CCP; 2020 Issuances Reach MYR 11.7 Billion

The National Mortgage Corporation of Malaysia, also known as Cagamas, has announced the combined issuance of Sukuk and bonds amounting to MYR 450 million, in its final issuance of 2020, according to local media reports. Proceeds of the issuance will be utilised to fund the purchase of house financing and housing loans from the financial system.

The issuance comprises of MYR 50 million two-year Islamic Medium-Term Notes (IMTNs) and MYR 400 million three-month Conventional Commercial Papers (CCPs). The IMTNs were priced at a spread of 41 basis points (bps) above the corresponding Malaysia Government Investment Issues. Meanwhile, the CCPs were priced at the corresponding three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) benchmark rate plus 2 bps or equivalent to 1.96% based...