Cagamas Issues Securities Worth MYR 755 Million Including MYR 370 Million in IMTNs and ICPs 

The National Mortgage Corporation of Malaysia, known as Cagamas, has launched aggregate issuances worth MYR 755 million, according to a company statement released on the 23rd of August 2021. The issuances comprise of MYR 25 million one-year Islamic Medium-Term Notes (IMTNs), MYR 345 million Islamic Commercial Papers (ICPs) with a three-month tenure, MYR 200 million one-year Floating Rate Notes (FRNs), MYR 85 million one-year Conventional Medium Term Notes, as well as MYR 100 million three-month Conventional Commercial Papers.

Why it Matters?

Proceeds from the issuances will be used to purchase Islamic home financing and housing loans from the financial system. According to Datuk Chung Chee Leong, President and Chief Executive Officer of Cagamas, the...