Malaysia's Boustead intends to sell up to RM 600 million MTNs from RM 1 billion program

By Jennifer Chiou

New York, Nov. 2 - Boustead Holdings Bhd. announced a proposed issue of RM 600 million of notes under its new up to RM 1 billion medium-term notes program.

The up to seven-year program received approval from the Securities Commission on Oct. 15.

Affin Investment Bank Bhd. is the lead arranger along with OCBC Bank (Malaysia) Bhd. and Public Investment Bank Bhd. as the joint lead managers for the guaranteed program.

At the same time, the company has signed a syndicated bank guarantee facility agreement of up to RM 620 million meant to guarantee the proposed RM 600 million of notes and one coupon payment amounting to a maximum of RM 20 million.

Proceeds are earmarked for financing acquisitions, investments and/or refinancing borrowings.

Based in Kuala Lumpur, the Boustead group of companies has an active interest in six primary sectors: plantation, heavy industries, property, finance and investment, trading and manufacturing and services.

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