By Marisa Wong
Morgantown, W.Va., Sept. 25 – S P Setia Bhd. announced that wholly owned subsidiary Setia Recreation Sdn. Bhd. issued RM 434 million of Islamic medium-term notes on Monday.
The 10-year secured sukuk, which are guaranteed by S P Setia, comprise the maximum amount of the company’s sukuk program established in July.
Public Investment Bank Bhd. is the lead arranger.
Proceeds will be used to finance the purchase of land.
S P Setia is a property development company based in Shah Alam, Malaysia.
| Issuer: | Setia Recreation Sdn. Bhd.
|
| Guarantor: | S P Setia Bhd.
|
| Issue: | Islamic medium-term notes
|
| Amount: | RM 434 million
|
| Maturity: | 10 years
|
| Arranger: | Public Investment Bank Bhd.
|
| Settlement date: | Sept. 25
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