Cagamas Prices MYR 100 Million Three-year Sukuk 

Cagamas Prices MYR 100 Million Three-year Sukuk 

https://islamicmarkets.com/articles/cagamas-prices-myr-100-million-three-year-sukuk
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The National Mortgage Corporation of Malaysia, Cagamas Berhad (Cagamas), has announced the successful pricing of three-year Islamic Medium-term Notes (IMTNs) worth MYR 100 million (USD 23 million) for the procurement of house financing from the financial system, as per a statement made on the 20th of June 2022.

Why it Matters?

The offering, completed through a private placement, was priced at 40 basis points (bps) higher than the Malaysian Government Investment Issues. The offering preceded the US Federal Reserve’s (Fed) predicted interest rate hike as part of its anti-inflationary efforts. After the pricing, the Fed raised interest rates by 75 bps, the highest rate since 1994.

Details

The Sukuk will be repaid a...