By Marisa Wong
Morgantown, W.Va., Dec. 28 – Tan Chong Motor Holdings Bhd. issued RM 219.75 million of medium-term notes on Wednesday, according to a Bursa Malaysia announcement.
The series 2016-A notes were issued in various classes and tranches through Premium Commerce Bhd., under its RM 2 billion asset-backed medium-term note program.
Maturities range from one to eight years, and coupons range from 0.09% to 5.47%.
CIMB Investment Bank Bhd. is the lead arranger and lead manager.
The company used proceeds to acquire hire purchase receivables and will use proceeds from the sale of the receivables as working capital.
Based in Kuala Lumpur, Tan Chong assembles and distributes passenger, commercial and motor vehicles.
| Issuer: | Premium Commerce Bhd.
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| Issue: | Medium-term notes, series 2016-A
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| Amount: | RM 219.75 million
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| Maturities: | One to eight years
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| Coupons: | 0.09% to 5.47%
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| Manager: | CIMB Investment Bank Bhd.
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| Settlement date: | Dec. 28
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