Cagamas Issues Short-Term Papers Worth MYR 545 Million, Including MYR 245 Million Islamic Commercial Papers

The National Mortgage Corporation of Malaysia, also known as Cagamas, has announced combined short-term issuances of MYR 545 million, made up of MYR 245 million three-month Islamic commercial papers (ICPs), and MYR 300 million three-month conventional commercial papers (CCPs), according to local media reports.

Proceeds from the issuances will be used to fund the purchase of housing loans and house financing from the financial system, according to Datuk Chung Chee Leong, President and Chief Executive Officer of Cagamas. Leong added that despite downside risks on the global outlook, Cagamas had successfully priced the CCP and ICP issuances at 21 basis points to 24 basis points, which was higher than the respective Malays...