Danajamin, DBS Bank, UOB guarantee Quill's RM700m bonds

  • Business
  • Monday, 01 Apr 2013

KUALA LUMPUR: Danajamin Nasional Bhd is teaming up with DBS Bank Ltd and United Overseas Bank Bhd to guarantee RM700mil bonds issued by Quill Retail Malls Sdn Bhd.

Danajamin, which is Malaysia's financial guarantee insurer, said on Monday the collaboration was to affirm its commitment to partner the banking industry to boost ate Malaysian companies' access to the bond market.

Proceeds from the bond programme would be used to build a retail mall at Vision City, Kuala Lumpur.

"The RM700mil bonds form part of a RM850mil seven-year bond programme issued by Quill Retail. The bond programme comprises RM700mil guaranteed bonds and RM150mil unrated bonds.

"Under this arrangement, Danajamin, DBS and UOB will provide guarantees of RM260mil, RM260mil and RM180mil, respectively," it said. The bonds were rated AAA(fg) and AAA(bg).

Danajamin said RM425mil of bonds with a maturity of four years were issued and fully subscribed on Monday.

Including the guarantee for Quill Retail, Danajamin has provided guarantees for RM6.1bil sukuk and bond programmes.

Hong Leong Investment Bank acted as the principal adviser, lead arranger and lead manager for the bond programme.

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