Malaysia’s Cagamas Issues Islamic Medium-term Notes Worth MYR 935 Million
December 06, 2022
The National Mortgage Corporation of Malaysia, Cagamas Berhad (Cagamas) has announced the conclusion of an MYR 935 million (USD 213 million) Sukuk issuance, comprising MYR 735 million one-year Islamic medium-term notes (IMTNs) and MYR 200 million (USD 45.7 million) three-year IMTNs, as per a statement on the 5th of December 2022.
Why it Matters?
The offering's proceeds will be utilised to pay for the acquisition of mortgage loans and other home finance from the domestic financial sector. The papers are unsecured obligations of the corporation that rank pari passu with all other current unsecured obligations and will be redeemed at their full nominal value upon maturity.
DetailsIn November 2022, Cagamas successfully co...