Malaysia’s Berjaya Land sets up RM 650 million 10-year MTN program

By Marisa Wong

Madison, Wis., Dec. 3 – Malaysia’s Berjaya Land Bhd. announced an up to RM 650 million guaranteed medium-term note program.

The Securities Commission Malaysia approved the program on Wednesday.

The program has a tenor of 10 years from the date of the first issuance.

AmInvestment Bank Bhd. is the adviser and lead arranger.

The program will be backed by a financial guarantee insurance facility granted by Danajamin Nasional Bhd. and a bank guarantee facility granted by OCBC Bank (Malaysia) Bhd.

Proceeds will be used to refinance the group’s bank borrowings, for equity investments and for working capital.

Malaysia Rating Corp. Bhd. has assigned ratings of AAAfg and AAAbg to the program.

Berjaya Land is a property developer based in Kuala Lumpur.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.