KUALA LUMPUR: Sports Toto Bhd
’s (SPToto) wholly-owned subsidiary, Magna Mahsuri Sdn Bhd (MMSB), has subscribed to RM12mil worth of medium-term notes (MTNs) issued by Berjaya IPS Equity Sdn Bhd, a wholly-owned unit of Berjaya Corp Bhd (BCorp).
In a Bursa Malaysia filing, SPToto said the subscription forms part of the eighth tranche of BIPS Equity’s RM500mil MTN programme.
The tranche has an issuance size of RM25mil, of which MMSB subscribed RM12mil.
The MTNs carry a fixed coupon rate of 7% per annum, with semi-annual interest payments and a one-year tenure that can be rolled over for up to 30 years.
The notes are unrated, unsecured and guaranteed by Berjaya Capital Bhd.
Kenanga Investment Bank Bhd is the principal adviser, lead arranger, lead manager and facility agent for the MTNs.
“The subscription provides the SPToto Group with an opportunity to optimise the utilisation of its internal funds by investing in the MTNs,” SPToto said.
