Danajamin guarantees TRIplc bonds

KUALA LUMPUR: Danajamin Nasional Bhd has guaranteed the RM240 million 15-year medium term notes bond programme issued by TRIplc Ventures Sdn Bhd (TVSB), a wholly-owned subsidiary of TRIplc Bhd.

This is the first time Danajamin is providing its financial guarantee for bonds raised to finance a private finance initiative (PFI) project.

"We are pleased to provide our credit enhancement for a PFI project for the first time. With a strong pipeline of PFI projects expected to be launched by the government in the near term, we anticipate Danajamin playing a strong role in the financing of such projects," Danajamin CEO Ahmad Zulqarnain Onn said in a statement on Monday.

The bonds issued at AAA(fg) rating were fully subscribed.

"TVSB will be using the funds raised from the bond issuance to part-finance the construction of Universiti Teknologi Mara's Puncak Alam campus (phase 2) academic facilities and infrastructure that is part of a 23-year concession awarded to TVSB," said the group.

The bond programme is arranged and managed by Hong Leong Investment Bank Bhd.

Danajamin has provided guarantees for a total facility of RM2.93 billion for bond programmes from various sectors including property, plantation, utilities and manufacturing. TVSB is the only issuer which Danajamin has guaranteed from the education sector.

TRIplc, which has been categorised as a PN17 company since May 2006, deals with land and property construction and development.