KUALA LUMPUR, Sept 29 (Bernama) -- UEM Sunrise Bhd has completed the issuance of RM350 million in nominal value Islamic medium-term notes (IMTNs).
In a Bursa Malaysia filing today, the property developer stated that the IMTNs are issued in two tranches.
“The first tranche of RM200 million has a tenure of five years and will mature on Sept 29, 2028.
“The second tranche of RM150 million has a tenure of seven years and will mature on Sept 27, 2030,” it said.
Together with an Islamic commercial paper programme, the company shall have a combined aggregate limit of up to RM4.0 billion in nominal value, based on the shariah principle of Murabahah (via Tawarruq arrangement).
The proceeds from the new IMTNs will be utilised for UEM Sunrise and its subsidiaries’ shariah-compliant general corporate purposes.
“It includes the acquisition of new landbanks, acquisition of companies, investments (including capital injections into our subsidiaries, associates, and joint ventures, project development costs, and infrastructure costs.
“It will also be used for capital expenditure, general expenditures, and refinancing of Islamic financing and outstanding loan facilities,” UEM Sunrise stated.
-- BERNAMA
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