| From Ifrasia.com: Malaysia’s national mortgage corporation Cagamas issued a US$156m five-year Islamic deal yesterday (April 27). A statement from the borrower said the notes were unsecured obligations and will rank pari passu with other existing unsecured obligations of the company.
The bonds were priced at 4.35% via lead manager AmInvestment Bank. Ram and Marc have given respective ratings of AAA to the notes to reflect Cagamas’s state-owned status, as well as its strategic importance in keeping public housing affordable.
The company had raised M$380m of Islamic MTNs in one- to three-year tenors in late February this year........................................Full Article: Source
|