Malaysia’s Cagamas Concludes Issuance of MYR 345 Million One-Year Floating Sukuk  

The National Mortgage Corporation of Malaysia, Cagamas Berhad (Cagamas) has announced the conclusion of the issuance of its MYR 1.025 billion (USD 234.2 million) one-year floating bonds and Sukuk, comprising the MYR 345 million (USD 79 million) one-year floating profit rate Islamic medium-term notes (IMTNs) and the MYR 680 million (USD 155 million) one-year floating rate conventional medium-term notes (CMTNs), and bringing the company’s aggregate issuances for 2022 to MYR 7.19 billion (USD 1.6 billion), as per a statement issued on the 30th of May 2022.

Why it Matters?

The proceeds from the notes will be used to purchase home loans and financing from the financial system. The issuance is Cagamas' first after the Central Bank of Malaysia, Bank Negara Malays...