Malaysia's Sunway REIT aims to launch up to RM 1 billion MTN program

By Marisa Wong

Madison, Wis., May 25 - Sunway Real Estate Investment Trust has proposed an up to RM 1 billion medium-term note program, according to an announcement by manager Sunway REIT Management Sdn. Bhd.

The notes will be issued through special purpose vehicle SunREIT Unrated Bond Bhd., formerly known as Mega Revenue Sdn. Bhd.

The MTN program will have a tenor of up to 15 years from the date of first issuance.

HwangDBS Investment Bank Bhd. will be the principal adviser/lead arranger and facility agent for the program. HwangDBS and Public Investment Bank Bhd. will act as security agents.

On Thursday HwangDBS submitted an application on behalf of SunREIT Unrated Bond seeking approval of the proposed program from the Securities Commission Malaysia.

The first tranche of notes will be issued within two years of receipt of approval from the Securities Commission.

The real estate investment trust is based in Petaling Jaya, Selangor, Malaysia.

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