Cagamas concludes issuance of one-year floating bonds, sukuk worth RM1.025b

30/5/2022 8:07:00 AM

Highlight: Cagamas concludes issuance of one-year floating bonds, sukuk worth RM1.025b - Bernama

Highlight: Cagamas concludes issuance of one-year floating bonds, sukuk worth RM1.025b - Bernama

KUALA LUMPUR (May 30): National mortgage corporation Cagamas Bhd has concluded the issuance of its one-year floating bonds and sukuk worth RM1.025 billion amid rising interest rates and inflation concerns.Cagamas said in a statement on Monday (May 30) that the issuance comprises the one-year floating profit rate Islamic medium-term notes (IMTNs) worth RM345 million and the one-year floating rate conventional medium-term notes (CMTNs) valued at RM680 million, bringing the company’s aggregate issuances for the year to RM7.19 billion.'The proceeds from

A KUALA LUMPUR (May 30): National mortgage corporation Cagamas Bhd has concluded the issuance of its one-year floating bonds and sukuk worth RM1.for the latest news you need to know.A state Fire and Rescue Department spokesman said that they received a distress call at 12.for the latest news you need to know.

025 billion amid rising interest rates and inflation concerns.Cagamas said in a statement on Monday (May 30) that the issuance comprises the one-year floating profit rate Islamic medium-term notes (IMTNs) worth RM345 million and the one-year floating rate conventional medium-term notes (CMTNs) valued at RM680 million, bringing the company’s aggregate issuances for the year to RM7.821 billion at end-2020 compared with RM2.19 billion.He added that the body was brought to the shore by a tourist boat that was on location."The proceeds from the IMTNs and CMTNs will be used to fund the purchase of house financing and housing loans from the financial system," the second largest issuer of debt instruments after the Malaysian government said.According to the Auditor-General's (AG) Report 2020 Series 1 on the Management of Penang State-owned Companies, the consolidated revenue account balance decreased 23.It is also the largest issuer of AAA corporate bonds and sukuk in the market.1 per cent to RM887.

Cagamas president and chief executive officer Datuk Chung Chee Leong said the IMTNs and CMTNs represent the first issuance concluded by Cagamas after the overnight policy rate hike of a quarter basis point by Bank Negara Malaysia on May 11.78 million from RM1.45pm,” he said.He said liquidity in the local fixed income market remains stable and resilient despite the challenging market environment arising from continued geopolitical tension, and growing expectations of central banks to raise interest rates.According to Cagamas, the IMTNs and CMTNs, with its floating rate mechanism, provide potentially higher returns to investors in a rising interest rate environment."Revenue collection decreased 29."The deals were successfully priced with the three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) reference at equivalent to 2.66% based on KLIBOR fixing on the pricing date.28 million from RM661.28 million from RM661.

"The IMTNs and CMTNs will be redeemed at their full nominal value on maturity and are unsecured obligations of the company, ranking pari passu with all other existing unsecured obligations of the company,” Cagamas said.Subscribe to Mid-day email alert We deliver news to your inbox daily.The state government ended the financial year 2020 with a deficit of RM267.

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