Cagamas unveils multi-tenured Sukuk and conventional debt
The Malaysian National Mortgage Corporation - Cagamas - has made an announcement about the issuance of its MYR 125 million multi-tenured debt securities comprising Sukuk Commodity Murabahah and Conventional Medium Term Notes (CMTNs) of MYR 90 million and MYR 35 million respectively. The issuance will be carried out in benchmark 3, 5, 7, 10, 12 and 15-year tenures. The respective yields are 3.35%, 3.50%, 3.75%, 3.90%, 4.00% and 4.14%. They are also equivalent to a 31 basis points to 45 basis points range above comparable Malaysia Government Securities (MGS). Proceeds will be used for the purchase of Islamic as well as conventional housing loans from the financial system.