UEM Sunrise issues RM165 mil Islamic medium-term notes

• UEM Sunrise said the proceeds from the exercise would be utilised for the group and/or its subsidiaries’ shariah-compliant general corporate purposes.

KUALA LUMPUR (March 7): UEM Sunrise Bhd has completed the issuance of RM165 million in nominal value Islamic medium-term notes (IMTN).

In a filing with Bursa Malaysia on Tuesday, the property developer said the new IMTN with a tenure of three years, would mature on March 5, 2026.

UEM Sunrise said the proceeds from the exercise would be utilised for the group and/or its subsidiaries’ shariah-compliant general corporate purposes.

It said these included the acquisition of land banks, acquisition of companies, investments (including capital injections into UEM Sunrise’s subsidiaries, associates and joint-venture companies), as well as for project development cost and infrastructure cost.

The company added that the proceeds would also be used for capital expenditure, general expenditure, and the refinancing of Islamic financing/outstanding loan facilities.