BUSINESS

CAGAMAS CONCLUDES ISSUANCE OF RM200 MLN SUKUK

15/06/2021 09:29 AM

KUALA LUMPUR, June 15   -- Cagamas Bhd has announced the successful issuance of its RM200 million five-year Islamic Medium Term Notes (IMTNs), the proceeds of which will be used for the company’s working capital purposes.

“We are pleased with the successful pricing of this issuance amid stricter measures implemented nationwide under the Movement Control Order 3.0 (MCO 3.0), following the rise in COVID-19 cases in recent weeks.

“While the local bond market sentiment improved as evidenced by buying activities, the impact on growth remains uncertain post-MCO 3.0,” said president and chief executive officer Datuk Chung Chee Leong in a statement today.

The RM200 million issuance was concluded via private placement, registering a commendable 48-basis point spread against the Malaysian Government Investment Issues, he said.

He added that the new issuance brings the company’s aggregate issuances for the year to RM6.1 billion.

The papers, which will be redeemed at their full nominal value upon maturity, are unsecured obligations of the company, ranking pari passu and with all other existing unsecured obligations of the company.

They will be listed and tradable under the Scripless Securities Trading System.

-- BERNAMA

 

 


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