OTHERS SUNWAY REAL ESTATE INVESTMENT TRUST (“SUNREIT”) - PROPOSED ISSUE OF, OFFER FOR SUBSCRIPTION OR PURCHASE OF OR INVITATION TO SUBSCRIBE FOR OR PURCHASE OF COMMERCIAL PAPERS PURSUANT TO A COMMERCIAL PAPER ISSUANCE PROGRAMME OF UP TO RM1.6 BILLION IN NOMINAL VALUE (“CP PROGRAMME”) (“PROPOSAL”)
|SUNWAY REAL ESTATE INVESTMENT TRUST|
|Description||SUNWAY REAL ESTATE INVESTMENT TRUST (“SUNREIT”)|
- PROPOSED ISSUE OF, OFFER FOR SUBSCRIPTION OR PURCHASE OF OR INVITATION TO SUBSCRIBE FOR OR PURCHASE OF COMMERCIAL PAPERS PURSUANT TO A COMMERCIAL PAPER ISSUANCE PROGRAMME OF UP TO RM1.6 BILLION IN NOMINAL VALUE (“CP PROGRAMME”) (“PROPOSAL”)
The Board of Directors of Sunway REIT Management Sdn Bhd, the manager of SUNREIT wishes to announce that SunREIT Capital Berhad (formerly known as Noble Pioneer Sdn Bhd) (“SunREIT Capital”), a special purpose vehicle whose shares are held by OSK Trustees Berhad as trustee for SunREIT, intends to undertake the Proposal. The CP Programme has a tenure of up to seven (7) years from the date of the first issuance under the CP Programme.
Pursuant thereto, SunREIT Capital has appointed Public Investment Bank Berhad (“PIVB”) as the Principal Adviser and Lead Arranger for the Proposal and PIVB has on 24 February 2012, on behalf of SunREIT Capital, submitted an application to the Securities Commission Malaysia (“SC”) to seek the SC’s approval for the Proposal in accordance with Section 212 of the Capital Markets and Services Act, 2007 and the Private Debt Securities Guidelines issued by the SC.
In addition, the Board of Directors of the manager of SUNREIT has decided that in lieu of the Proposal, SunREIT Capital will not proceed with the proposed issue of, offer for subscription or purchase of or invitation to subscribe for or purchase of medium term notes pursuant to a medium term note programme of RM3.0 billion in nominal value, which was approved by the SC via its letter dated 12 October 2011 and announced on 14 October 2011.
This announcement is dated 24 February 2012.
|Company Name||SUNWAY REAL ESTATE INVESTMENT TRUST|
|Date Announced||24 Feb 2012|