IOI Properties unit to raise up to RM6 bln via Euro notes
Last update: 08/11/2019
KUALA LUMPUR, Nov 8 -- IOI Properties Group Bhd's wholly-owned subsidiary, Progressive View Pte Ltd, has established a S$2 billion (RM6.1 billion) Euro medium-term note programme.
The property developer said approval in-principle had been received from the Singapore Exchange Securities Trading Ltd to set up the programme, which is unconditionally guaranteed by IOI Properties.
The company had last month obtained Bank Negara Malaysia’s approval to guarantee the notes issued pursuant to the programme.
“The net proceeds from the programme are presently intended to be used for, including but not limited to, the capital expenditure, working capital requirements, refinancing of existing borrowings and/or general corporate purposes of the Group,” IOI Properties said in a filing with Bursa Malaysia today.
DBS Bank Ltd is the arranger and dealer for the programme.