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Malaysia's Cagamas debuts on the Singapore dollar bond market

[KUALA LUMPUR] Malaysia's state-backed mortgage lender Cagamas Bhd said on Tuesday that it has made its debut on the Singapore dollar bond market under a US$2.5 billion conventional multi- currency medium term notes programme.

The Singapore dollar-denominated paper, with a maturity of three years, carries an issue rating of A3 by Moody's and closed at a spread of 50 basis points over the corresponding Singapore swap offer rates, Cagamas said in a press statement.

The bond is issued through Cagamas's wholly owned unit Cagamas Global Plc, according to the statement.

Cagamas did not disclose the size of the offer but according to a report by Moody's on Monday, Cagamas's issuance amounted to as much as S$100 million dollars.