UEM Sunrise completes RM500 mil Islamic medium-term note issuance with 12-year tenure

KUALA LUMPUR (Feb 15): UEM Sunrise Bhd (KL:UEMS) has completed the issuance of Islamic medium-term notes (IMTN) totalling RM500 million in nominal value, under its existing IMTN programme.

In a filing with Bursa Malaysia, the property developer said the new IMTN carries a tenure of 12 years and will mature on Feb 12, 2038.

It said proceeds from the issuance will be utilised for shariah-compliant general corporate purposes of UEM Sunrise or its subsidiaries.

These include the acquisition of new landbank and companies, investments such as capital injections into subsidiaries, associates and joint venture companies, as well as project development and infrastructure costs.

The funds will also be used for capital expenditure, general expenditure and refinancing of existing Islamic financing or outstanding loan facilities.

Unlock Malaysia’s shifting industrial map. Track where new housing is emerging as talents converge around I4.0 industrial parks across Peninsular Malaysia. Download the Industrial Special Report now.