We're sorry, this article is unavailable at the moment. If you wish to read this article, kindly contact our Customer Service team at 1-300-88-7827. Thank you for your patience - we're bringing you a new and improved experience soon!
KUALA LUMPUR: Danajamin Nasional Bhd and OCBC Bank (Malaysia) Bhd (OCBC) will guarantee BERJAYA LAND BHD’s (BLand) RM650mil 10-year medium term notes (MTN) programme.
Danajamin, which is the country’s financial guarantee insurer, said on Tuesday it guaranteed the RM500mil tranche with a longer tenure of 10 years.
OCBC Malaysia provided the guarantee for the remaining tranche of RM150mil with a tenure of up to six years.
Both tranches, rated at AAA(fg) and AAA(bg) rating respectively, were issued on Tuesday and were fully subscribed.
Proceeds raised from the bonds issuance will go towards BLand’s investments in its hospitality and integrated development businesses, and also the refinancing of its existing borrowings.
B-Land is an intermediate investment holding company within the Berjaya group, and is mainly involved in hotel and recreation activities, property development, gaming and investments.
AmInvestment Bank Bhd is the sole principal adviser and lead arranger for the transaction.
Danajamin said it has provided guarantees for RM7.6bil bond and Sukuk programmes, which included the latest guarantee for BLand.
Article type: metered
User Type: anonymous web
Campaign ID: 7
Cxense type: free
User access status: 3