Cagamas issues inaugural A$100m medium-term notes

PETALING JAYA: Cagamas Bhd has issued its inaugural Australian dollar medium-term notes amounting to A$100 million (RM331 million) through its wholly owned subsidiary, Cagamas Global PLC.
The Australian dollar medium-term notes, which has a maturity of one year, also mark the company’s first foreign currency floating rate note (FRN) issued under Cagamas’ US$2.5 billion conventional multi-currency medium-term note (EMTN) programme.
Meanwhile, the three-year RM1 billion Cagamas conventional medium-term notes (CMTN), which was issued under the company’s RM40 billion medium-term notes programme,
represents the company’s second dual tranche reopening concluded this year.
The dual currency issuance brings the total foreign currency denominated bonds/sukuk issued for the year to RM3.1 billion or 30%, with the remaining 70% or RM7.4 billion issued in the local currency market.
This also brings Cagamas' aggregate year-to date-issuance to RM10.5 billion, which represents the most amount issued by the company since 2013 for a single year.
The Australian dollar FRN carry an issue rating of "A3" by Moody’s and will be fully and unconditionally guaranteed by Cagamas.