Malaysia's Cagamas to issue up to $3.64 bln in bonds this year
KUALA LUMPUR, Nov 24 (Reuters) - Cagamas Bhd, Malaysia's state-backed mortgage lender, said on Friday it could raise up to 15 billion ringgit ($3.64 billion) in bonds this year.
The firm has issued 12.5 billion ringgit worth of bonds year-to-date, surpassing its initial 11 billion ringgit target for the year, Chief Executive Officer Chung Chee Leong said at a bond market conference.
The firm is also keen on issuing more foreign currency bonds, particularly panda bonds, he added.
In efforts to broaden its investor base, Cagamas' debt issuances include denominations in renminbi, Hong Kong dollar, Singapore dollar, U.S. dollar and Australian dollar.
Cagamas is the second-largest issuer of debt instruments after the government and the largest issuer of AAA corporate bonds and sukuk in Malaysia.
The firm has cumulatively issued about 299.3 billion ringgit worth of corporate bonds and sukuk since its inception in 1986.
Malaysia's 1.3 trillion ringgit bond and sukuk market is the third largest in Asia, relative to gross domestic product.
($1 = 4.1170 ringgit) (Reporting by Liz Lee; Editing by Sherry Jacob-Phillips)