Malaysia's Glenealy Plantations plans up to RM 500 million MTN program

By Marisa Wong

Madison, Wis., June 15 - Glenealy Plantations (Malaya) Bhd. is planning an up to RM 500 million medium-term note program, according to a company announcement.

The company may issue medium-term notes within five years of the first issuance under the program. Each tranche of notes will have a maturity of more than one year but not exceeding 12 years.

The oil palm plantation operator has mandated Maybank Investment Bank Bhd. as the principal adviser and lead arranger for the program.

Proceeds will be used to partially finance the Kuala Lumpur-based company's plantation development expenses, including the construction cost of a palm oil mill, acquisition of new plantation estates and other capital expenditures.

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