Eco Botanic issues RM150mil medium term notes

  • Business
  • Saturday, 24 Mar 2018

KUALA LUMPUR: Eco Botanic Sdn Bhd has issued RM150mil of unrated medium term notes (MTNs) with a tenure of three to five years of which RM100mil are guaranteed by Danajamin Nasional Bhd.

The issue on March 23, its first, is part of an MTN programme of up to RM250mil. Proceeds from the issuance will be utilised by Eco Botanic to part-finance the development cost, including infrastructure cost, working capital requirements and the development rights for its projects located at Eco Botanic, Iskandar Malaysia.

MIDF Investment was appointed as the Principal Adviser, Lead Arranger and Lead Manager for the MTN Programme.

Eco Botanic, a wholly-owned subsidiary of Eco World Development Group Bhd, was incorporated to develop a mixed development project consisting of residential and commercial properties, namely Eco Galleria and Eco Boulevard in Iskandar Puteri, Johor.

The project is located among a fully integrated education hub called EduCity, industrial and commercial hubs Nusa Cemerlang Industrial Park and Southern Industrial Logistic Cluster and Legoland Malaysia.

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