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Corporate, Featured and Exclusive, Finance  |  JANUARY 27, 2016 10:44AM

Cagamas issues first bonds of the year

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cagamasMalaysia’s Cagamas Bhd announced on Thursday its first issuance of the year, comprising RM1.52 billion in conventional and Islamic bonds, or sukuk.

Proceeds from the issue, which was increased from an initial RM600 million, will fund the purchases of mortgage loans and Islamic house financing, the state-backed mortgage lender said in a statement.

Cagamas is Malaysia’s second-largest issuer of debt instruments after the government. It provides liquidity to primary lenders of housing loans to promote home ownership, issuing bonds and sukuk to make those purchases.

Malaysia’s central bank, CIMB Group Holdings Bhd and RHB Bank hold stakes in Cagamas.



 
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