Cagamas to Issue MYR 2 Billion of Combined Sukuk and Bonds to Finance Housing Loans

The National Mortgage Corporation of Malaysia, also known as Cagamas, has announced the combined issuance of Sukuk and bonds amounting to MYR 2 billion, according to local media reports. Proceeds of the issuance will be utilized to fund housing loans and house financing from the financial system.

The transaction, which is the largest amount priced by Cagamas in a single day since November 2013, marks the company’s 20th issuance in 2020, with a year-to-date issuance amounting to MYR 9.32 billion. In 2019, Cagamas successfully completed 26 Sukuk and bond issuances amounting to an aggregate of MYR 10.2 billion, according to a company statement.

Cagamas’ latest MYR 2 billion...