ISSUANCE OF CAGAMAS SUKUK

 

3 May 2010
Source : Cagamas

Cagamas Berhad (Cagamas), the National Mortgage Corporation, announced the issuance of RM500 million 5-year Sukuk..

The Cagamas Sukuk which will be redeemed at their full nominal value on maturity, are unsecured obligations of the Company, ranking pari passu among themselves and with all other existing unsecured obligations of the Company.

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

About Cagamas
Cagamas Berhad (Cagamas), the National Mortgage Corporation and leading securitisation house, was established in 1986 to promote the secondary mortgage market in Malaysia. Cagamas has, through the years, evolved and diversified its business model from that of a national mortgage corporation seeking to aid Malaysians with affordable housing, to becoming a leader in securitisation. It issues debt securities to finance the purchase of housing loans and other consumer receivables from financial institutions and non-financial institutions. The provision of liquidity at a reasonable cost to the primary lenders of housing loans encourages further financing of houses at an affordable cost.

The Cagamas model is well regarded by the World Bank as the most successful secondary mortgage liquidity facility. Cagamas is the leading issuer of debt instruments, second only to the Government of Malaysia, the largest issuer of AAA debt securities as well as one of the top Sukuk issuers in the world. Since incorporation in 1986, Cagamas has cumulatively issued RM241.39 billion of conventional and Islamic debt securities.

Cagamas’ debt securities continue to be assigned the highest ratings of AAA and P1 by RAM Rating Services Berhad and AAA/AAAID and MARC-1/MARC-1ID by Malaysian Rating Corporation Berhad, denoting its strong credit quality.
Cagamas Berhad (157931-A)
Level 32, The Gardens North Tower
Mid Valley City, Lingkaran Syed Putra 59200 Kuala Lumpur
Tel : +603 - 2262 1800 I Fax: +603 - 2282 8125 / 9125
www.cagamas.com.my