Cagamas Issues Securities Worth MYR 710 Million Including MYR 300 Million Sukuk

The National Mortgage Corporation of Malaysia, also known as Cagamas, has launched aggregate issuances of Sukuk and conventional bonds worth MYR 710 million, in its inaugural issuance exercise for 2021, according to a recent statement provided by the company.

The issuances, which comprise of MYR 300 million Islamic Commercial Papers (ICPs), MYR 300 million Conventional Commercial Papers (CCPs), MYR 55 million one-year Conventional Medium-Term Notes (CMTNs), as well as MYR 55 million three-year CMTNs, will be listed and tradable under the Scripless Securities Trading System. Proceeds of the issuances will be used to fund the purchase of housing loans, house financing, as well as industrial hire purchases from the financial system, the statement noted.

Both ICPs and CCPs w...