KUALA LUMPUR: Cagamas Bhd has announced that its aggregate issuances in 2021 rose 65% year-on-year to RM19.2bil, which was its highest issuance since 2002.

       "This marks a strong ending to an eventful year as the Company records the highest issuance since the past two decades ago,” Cagamas president and CEO Datuk Chung Chee Leong in a statement today.

       In the same statement, the national national mortgage corporation also announced the aggregate issuance of RM900mil three-month conventional commercial papers (CCP), proceeds of which will be used to fund the purchase of housing loans from the financial system.

       The CCPs were priced at the corresponding three-month Klibor benchmark rate plus 3bps based on Klibor fixing on the pricing date, representing a spread of 24bps above the corresponding Malaysia Treasury Bills.

       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.

       “It has been an eventful year, following how challenging 2020 was for the local and global markets.

       "We are hopeful that 2022 will be a better year as the world charts for economic recovery amid the recent emergence of the Omicron variant, which may pose a downside risk to the strength of recovery," said Chung.