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Sunway Berhad's Sunway Velocity Mall Sdn Bhd Proposes Issuance Of Unrated Medium Term Notes Pursuant To Medium Term Note Programme


Tuesday, 26 Mar 2013 05:23am EDT 

Sunway Berhad announced that Sunway Velocity Mall Sdn Bhd (SVM or the Issuer), a 59% owned subsidiary of Sunway City Sdn Bhd which in turn is a wholly owned subsidiary of Sunway, had received authorisation from the Securities Commission (SC) to establish a Medium Term Note Programme for the issuance of unrated medium term notes (MTNs) of up to RMB1.0 billion in nominal value (MTN Programme) via SC’s letter dated March 21, 2013 which was received on March 25, 2013. The principal activities of the Issuer are to develop, construct and operate a shopping mall to be known as Sunway Velocity Shopping Mall, in Kuala Lumpur. Kenanga Investment Bank Berhad has been mandated by the Issuer as the Principal Adviser/Lead Arranger/Lead Manager/Facility Agent in respect of the MTN Programme. The MTN Programme shall have a tenure of up to 15 years from the date of first issue of the MTNs. The proceeds from the issuance of the MTNs under the MTN Programme of up to RMB461.0 million in nominal value to part finance the development cost of Sunway Velocity Shopping Mall situated on part of a piece of freehold commercial land in Kuala Lumpur (Property) as well as to fund the Trustee’s Reimbursement Account which is set up for the purposes of the MTN Programme; remaining Tranches Up to RMB539.0 million in nominal value to finance future operating and/or investment activities of the Issuer and/or related corporations. 

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24 Oct 2014