KUALA LUMPUR, Sept 17 -- Cagamas Bhd today made a three-month conventional commercial papers issuance of RM350 million, its 18th issuance for the year, the proceeds of which will be used to fund the purchase of mortgages from the financial system.
The issuance was strategically concluded prior to Bank Negara Malaysia’s fifth Monetary Policy Meeting which took place two days after the pricing day, President/Chief Executive Officer Datuk Chung Chee Leong said in a statement.
“The deal was successfully concluded via private placement and achieved a competitive pricing of five basis points below the corresponding benchmark three-month KLIBOR rate.
“We are pleased to see that the company’s short-term issuances continue to be highly sought after as demand for local currency fixed income instruments remain robust within the domestic capital market.
“The conclusion of this issuance brings the company’s total year-to-date issuance to RM5.9 billion,” he added.
The papers, which will be redeemed at their full nominal value upon maturity, are unsecured obligations of the company, ranking pari passu among themselves and with all other existing unsecured obligations.
-- BERNAMA
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