Malaysia's KPJ Healthcare plans RM250 million commercial paper, medium-term notes program

By Reshmi Basu

New York, Sept. 1 - KPJ Healthcare Bhd said it plans to issue RM250 million under a new commercial paper and medium-term notes program.

Proceeds will be used to repay the company's existing bank borrowings and for working capital purposes.

Under the program, the company may issue either commercial paper or medium-term notes or a combination.

The program will be available for seven years from the first issuance. Commercial paper may have one-, two-, three-, six- or nine-month maturities while medium-term notes may maturities between one and seven years.

The commercial paper will be partially underwritten up to RM70 million. The MTNs will not be underwritten.

Rating Agency Malaysia Bhd has assigned an indicative rating of P1/AA3 for the program.

Affin Merchant Bank Bhd is the principal adviser, lead arranger and lead underwriter for the program.

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