Malaysia's Quill Capita to issue up to RM 270 million of paper, MTNs

By Marisa Wong

Madison, Wis., July 18 - Quill Capita Trust announced that it entered into an agreement with Malaysian Trustees Bhd. on Monday to issue up to RM 270 million of secured commercial paper/medium-term notes under a commercial paper/MTN program.

The program was approved by the Malaysia Securities Commission on July 11, according to a previous announcement by Hong Leong Investment Bank Bhd., the lead arranger and adviser for the program.

As previously reported, the securities will be issued by the trust's wholly owned subsidiary Kinabalu Capital Sdn. Bhd.

Proceeds will be used to refinance RM 118 million of commercial paper due November 2011 and a RM 72 million term loan due November 2014. The trust said that the remainder of the proceeds will be used for future acquisitions and asset enhancement initiatives.

Quill is a Kuala Lumpur, Malaysia-based real estate investment trust.

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