Date : 05 September 2014

OTHERS MULPHA INTERNATIONAL BHD (“MIB”) - Issuance of US$90,000,000 Nominal Amount of Fixed Rate Notes Due 2016 by Mulpha SPV Limited, a wholly-owned subsidiary of MIB

MULPHA INTERNATIONAL BERHAD

TypeAnnouncement
SubjectOTHERS
DescriptionMULPHA INTERNATIONAL BHD (“MIB”)
- Issuance of US$90,000,000 Nominal Amount of Fixed Rate Notes Due 2016 by Mulpha SPV Limited, a wholly-owned subsidiary of MIB

1.      INTRODUCTION 

         The Board of Directors of MIB wishes to announce that Mulpha SPV Limited (“MSPV”), a wholly-owned subsidiary of MIB, has on 5 September 2014, issued US$90,000,000 Nominal Amount of Fixed Rate Notes due 2016 (“the Notes”).

2.      Description of the Notes

        
The Notes which are issued at an interest rate of 8% per annum payable semi-annually, are guaranteed by MIB and will mature on 5 September 2016. The Notes will be listed on the Labuan International Finance Exchange (LFX). 

3.      Utilisation of Proceeds


The proceeds of US$90,000,000 from the issuance of the Notes will be utilised as follows:- 

         (a)     US$65,000,000 will be utilised for the redemption of Series 2 US$65,000,000 Zero Coupon Notes due on 10 September 2014; and 

(b)    US$25,000,000 will be utilised for MIB Group’s general investments, acquisitions, refinancing of existing borrowings and/or as working capital.

4.      Effects of the Issuance of The Notes

         The issuance of the Notes will not have any effect on the issued and paid-up share capital and substantial shareholders’ shareholdings of MIB, and is not expected to have any material effect on the net assets of MIB Group for the financial year ending 31 December 2014. However, the issuance of the Notes is expected to marginally increase the borrowing cost of MIB Group. 

5.      Directors’ and Substantial Shareholders’ Interests

         None of the directors or substantial shareholders of MIB or persons connected with them has any interest, direct or indirect, in the issuance of the Notes.           



This announcement is dated 5 September 2014.



Announcement Info

Company NameMULPHA INTERNATIONAL BERHAD  
Stock Name MULPHA    
Date Announced5 Sept 2014  
CategoryGeneral Announcement
Reference NoMI-140905-FDCB9

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