By Marisa Wong
Madison, Wis., June 1 - TRIplc Bhd. announced that its wholly owned subsidiary TRIplc Ventures Sdn. Bhd. issued RM 35 million of junior-term notes on Friday.
This is the first tranche of notes to be issued under TRIplc Venture's junior note program.
TRIplc announced in April 2011 that its subsidiary planned to issue up to RM 240 million of medium-term notes under a program guaranteed by Danajamin Nasional Bhd. and up to RM 85 million of junior notes in two tranches under a junior notes program. TRIplc Venture completed the RM 240 million offering of medium-term notes in October 2011.
Proceeds from the junior notes will be used to finance construction costs under a concession agreement between the issuer, Universiti Teknologi MARA and the Government of Malaysia for the construction of certain facilities and infrastructure. Funds from the new notes will also be used to pay medium-term note coupons.
TRIplc is a construction and property development company based in Shah Alam, Malaysia.
| Issuer: | TRIplc Ventures Sdn. Bhd.
|
| Issue: | Junior-term notes
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| Amount: | RM 35 million
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| Settlement date: | June 1
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