OTHERS SUNWAY REAL ESTATE INVESTMENT TRUST ("SUNREIT") - ESTABLISHMENT OF A COMMERCIAL PAPERS ("CPs") PROGRAMME OF UP TO RM3.0 BILLION IN NOMINAL VALUE ("CP PROGRAMME")
|SUNWAY REAL ESTATE INVESTMENT TRUST|
SUNWAY REAL ESTATE INVESTMENT TRUST ("SUNREIT") - ESTABLISHMENT OF A COMMERCIAL PAPERS ("CPs") PROGRAMME OF UP TO RM3.0 BILLION IN NOMINAL VALUE ("CP PROGRAMME")
The Board of Directors of Sunway REIT Management Sdn Bhd, the management company for SUNREIT wishes to announce that SUNREIT Capital Berhad (“Issuer”), a special purpose company whose shares are held by RHB Trustees Berhad (“REIT Trustee”) on behalf of SUNREIT, had on 28 February 2019, lodged with the Securities Commission Malaysia (“SC”) the required information and documents relating to the establishment of the CP Programme pursuant to SC's Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework.
The CP Programme has a tenure of seven (7) years from the date of the first issuance.
Proceeds raised from the CP issuance under the CP Programme shall be utilised by the Issuer for the following purposes:
(i) for the purpose of advancing to SUNREIT where the REIT Trustee shall utilise such proceeds for the sole or a combination of the following purposes:
(a) to repay the amount outstanding under the revolving loan facility granted by Public Bank Berhad;
(b) as working capital requirements of SUNREIT and to defray expenses incurred in relation to the CP Programme;
(c) to repay financing of existing/future borrowings undertaken by SUNREIT for its investment activities (including capital expenditure and the related acquisition and financing expenses);
(d) to finance (including repayment of cash utilised by SUNREIT to part finance) the investment activities (including capital expenditure and the related acquisition and financing expenses) of SUNREIT;
in accordance with the Guidelines on Listed Real Estate Investment Trusts issued by the SC,
(ii) to refinance the maturing CPs on their respective maturity dates subsequent to the first issuance;
(iii) to refinance the maturing commercial paper under the commercial paper programme of up to RM1.6 billion in nominal value established by the Issuer; and
(iv) to refinance debt and/or hybrid securities that has been issued or may be issued by any other special purpose vehicle established by SUNREIT.
Public Investment Bank Berhad is the appointed Principal Adviser, Lead Arranger, Security Agent and Facility Agent for the CP Programme.
This announcement is dated 28 February 2019.
|Company Name||SUNWAY REAL ESTATE INVESTMENT TRUST|
|Date Announced||28 Feb 2019|
|Category||General Announcement for PLC|