Malaysia's PacificMas unit to launch RM 500 million CP, MTN program

By Marisa Wong

Madison, Wis., April 7 - PacificMas Bhd. announced that its wholly owned subsidiary, Pac Lease Sdn. Bhd., plans to establish a RM 500 million commercial paper and medium-term note program.

The paper will have a tenor of up to one year, and the medium-term notes will have a maturity of up to seven years.

AmInvestment Bank Bhd. and OCBC Bank (Malaysia) Bhd. are the joint advisers, joint lead arrangers and joint lead managers for the program.

Proceeds will be used to refinance the outstanding paper and notes issued under the subsidiary's existing RM 200 million commercial paper/MTN program and to finance general working capital requirements, which includes refinancing existing bank borrowings.

The commercial paper and MTNs have been assigned a short-term rating of P1 and a long-term rating of A2, respectively, with a stable outlook by RAM Rating Services.

PacificMas is a Kuala Lumpur-based investment holding company.

© 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.