UEM Sunrise issues RM350 mil in Islamic medium-term notes

• The property developer issued the new IMTNs in two tranches: a RM200 million first tranche with a five-year tenure and a RM150 million second tranche with a seven-year tenure. The first tranche will mature on Sept 29, 2028, while the second matures on Sept 27, 2030.

KUALA LUMPUR (Sept 29): UEM Sunrise Bhd has issued Islamic medium-term notes (IMTNs) worth RM350 million in nominal value.

According to a filing on Friday, the property developer issued the new IMTNs in two tranches: a RM200 million first tranche with a five-year tenure and a RM150 million second tranche with a seven-year tenure.

The first tranche will mature on Sept 29, 2028, while the second matures on Sept 27, 2030.

The notes were part of its IMTN programme, which together with an Islamic commercial papers programme, have a combined aggregate limit of up to RM4 billion.

UEM Sunrise said the proceeds from the new IMTNs will be used for the group’s Shariah-compliant general corporate purposes.

It explained that this includes, acquisition of new landbank, companies, investments, project development and infrastructure cost, capital expenditure, general expenditure, and refinancing of Islamic financing or outstanding loan facilities.

Shares in UEM Sunrise closed one sen or 1.2% higher at 84.5 sen, giving the group a market capitalisation of RM4.25 billion.

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