By Marisa Wong
Madison, Wis., June 28 - Paramount Corp. Bhd. announced that wholly owned subsidiary KDU University College Sdn. Bhd. established a sukuk program and issued an initial tranche of Islamic medium-term notes totaling RM 39 million on June 28.
The sukuk have a tenor of seven years.
Paramount announced in February that KDU planned to launch an up to RM 350 million sukuk program with Hong Leong Investment Bank Bhd., OCBC Al-Amin Bank Bhd. and RHB Investment Bank Bhd. as the joint lead arrangers and joint lead managers.
The Securities Commission Malaysia approved the proposed sukuk on Jan. 31.
Paramount is a property development company based in Petaling Jaya, Malaysia. The private college is also based in Petaling Jaya.
| Issuer: | KDU University College Sdn. Bhd.
|
| Issue: | Islamic medium-term notes
|
| Amount: | RM 39 million
|
| Maturity: | Seven years
|
| Settlement date: | June 28
|
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