Cagamas gets overwhelming response for Malaysia’s first Asean Sri Sukuk

The issuance, conducted via a public book building exercise by RHB Investment Bank, received an overwhelming response from investors and achieved a total order close to RM2 billion at initial price guidance. — AFP pic
The issuance, conducted via a public book building exercise by RHB Investment Bank, received an overwhelming response from investors and achieved a total order close to RM2 billion at initial price guidance. — AFP pic

KUALA LUMPUR, Oct 22 — The National Mortgage Corporation of Malaysia, Cagamas Bhd has priced a combined issuance of its maiden Asean Sustainability SRI Sukuk and Islamic Medium-Term Notes (IMTN) totalling RM450 million.

The issuance, conducted via a public book building exercise by RHB Investment Bank, received an overwhelming response from investors and achieved a total order close to RM2 billion at initial price guidance.

In a statement today, Cagamas said the issuance comprises a three-year RM100 million SRI Sukuk and RM350 million IMTN, and is based on the Islamic principle of Murabahah under the company’s existing RM60 billion IMTN programme.

“The proceeds from the SRI Sukuk will be used to fund Islamic financing related to affordable housing, while proceeds from the IMTN will be used to fund Islamic home financing,” it said.

The transaction marks the company’s 17th issuance exercise for the year and will bring the year-to-date issuance amount to RM6.68 billion. — Bernama


 

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