By Marisa Wong
Madison, Wis., Nov. 15 - Sunway Holdings Bhd. said that it made its first issuance under the previously announced commercial paper/medium-term note program on Monday.
Sunway issued RM 85 million of MTNs guaranteed by OCBC Bank (Malaysia) Bhd. in three tranches.
The first tranche totaling RM 25 million has a tenor of three years and was priced to yield 3.9%. The second tranche of RM 30 million has a tenor of four years and was priced to yield 4.1%. The third tranche of RM 30 million with a tenor of five years was priced to yield 4.2%.
The company plans to issue a total of up to RM 500 million of commercial paper and/or MTNs under the program, with the total amount of MTNs not to exceed RM 500 million and the total amount of commercial paper not to exceed RM 200 million.
The notes will have a tenor of up to seven years from the first issue date.
RHB Investment Bank Bhd. is the principal adviser and lead arranger for the program.
Before the issuance of any notes, Sunway may choose to nominate OCBC Bank (Malaysia) Bhd. or RHB Bank Bhd. to guarantee up to a maximum of RM 100 million each of any series of the notes.
The bank guarantees will have a tenor of no more than five years from the first issue date of the notes.
Sunway is a Petaling Jaya, Malaysia, investment holding company with property development as its core business.
| Issuer: | Sunway Holdings Bhd.
|
| Issue: | Medium-term notes
|
| Amount: | RM 85 million
|
| Announcement dates: | Sept. 21, Oct. 26
|
| Settlement date: | Nov. 15
|
|
|
| Bonds due 2013
|
| Amount: | RM 25 million
|
| Tenor: | Three years
|
| Yield: | 3.9%
|
|
|
| Bonds due 2014
|
| Amount: | RM 30 million
|
| Tenor: | Four years
|
| Yield: | 4.1%
|
|
|
| Bonds due 2015
|
| Amount: | RM 30 million
|
| Tenor: | Five years
|
| Yield: | 4.2%
|
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