By Angela McDaniels
Tacoma, Wash., Aug. 30 - Malaysia Airports Holdings Bhd. subsidiary Malaysia Airports Capital Bhd. issued RM 1 billion of 10-year Islamic medium-term notes with a periodic distribution rate of 4.55% per year, according to a news release from CIMB Investment Bank Bhd.
The notes are the first issue under the company's Islamic MTN program. The company plans to issue up to a combined RM 3.1 billion under the program and its Islamic commercial paper program. There is a sublimit of RM 1 billion for the commercial paper program.
According to a previous new release, CIMB Investment Bank and Citibank Bhd. are the joint principal advisers, joint lead arrangers and joint lead managers for the programs.
The proceeds will be used to help finance the construction of a new terminal, which is expected to be completed by the end of the first quarter of 2012, and to refinance debt.
The commercial paper and MTNs were given preliminary ratings of P1 and AAA (with stable outlook), respectively, by RAM Rating Services Bhd.
The issuer is a Subang, Malaysia-based investment holding company that operates in five segments through its 25 subsidiaries, including duty-free and non-dutiable goods, airport services and hotel management.
| Issuer: | Malaysia Airports Capital Bhd.
|
| Issue: | Islamic medium-term notes
|
| Amount: | RM 1 billion
|
| Maturity: | Aug. 30, 2020
|
| Managers: | CIMB Investment Bank Bhd. and Citibank Bhd.
|
| Distributions: | 4.55%
|
| Price: | Par
|
| Yield: | 4.55%
|
| Settlement date: | Aug. 30
|
| Rating: | RAM Rating Services Bhd.: AAA
|
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