Datuk Chung Chee Leong

Cagamas issues country's first dual tranche #sukuk reopening

Cagamas announced its 14th issuance for the year, a three-year, RM1 billion sukuk, which represents Malaysia's first ever dual tranche sukuk reopening. Proceeds from the issuance will be used to fund the purchase of Islamic house financing from the financial system. CEO Datuk Chung Chee Leong noted that the final yield was priced competitively at a spread of 50 basis points over the three-year Government Investment Issue. He said as at September 8, 2017, Cagamas' secondary trading volume stood at over RM5 billion. He added that subscription from foreign-based investors indicates continued confidence in the company. The new issuance will bring the company’s aggregate issuance for the year to RM8.5 billion.

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