BURSA ANNOUCEMENTS

Date : 14 October 2011

OTHERS SUNWAY REAL ESTATE INVESTMENT TRUST (“SUNREIT”) - PROPOSED ISSUANCE OF MEDIUM TERM NOTES PURSUANT TO A MEDIUM TERM NOTE PROGRAMME OF RM3.0 BILLION IN NOMINAL VALUE BY SUNREIT CAPITAL BERHAD (FORMERLY KNOWN AS NOBLE PIONEER SDN BHD) , A WHOLLY-OWNED SUBSIDIARY OF SUNREIT

SUNWAY REAL ESTATE INVESTMENT TRUST

TypeAnnouncement
SubjectOTHERS
DescriptionSUNWAY REAL ESTATE INVESTMENT TRUST (“SUNREIT”)
- PROPOSED ISSUANCE OF MEDIUM TERM NOTES PURSUANT TO A MEDIUM TERM NOTE PROGRAMME OF RM3.0 BILLION IN NOMINAL VALUE BY SUNREIT CAPITAL BERHAD (FORMERLY KNOWN AS NOBLE PIONEER SDN BHD) , A WHOLLY-OWNED SUBSIDIARY OF SUNREIT
1. Introduction
      The Board of Directors of Sunway REIT Management Sdn Bhd, the manager of SUNREIT is pleased to announce that SunREIT Capital Berhad (formerly known as Noble Pioneer Sdn Bhd) (“SunREIT Capital” or the “Issuer”) had received approval from the Securities Commission via its letter dated 12 October 2011, which was received on 13 October 2011, to establish a Medium Term Note Programme (“MTN Programme”) of RM3.0 billion in nominal value, pursuant to which medium term notes (“MTNs”) may be issued from time to time.

      HSBC Bank Malaysia Berhad, Maybank Investment Bank Berhad and RHB Investment Bank Berhad are the Joint Principal Advisers and Joint Lead Arrangers for the establishment of the MTN Programme.


2. Tenure, Rating and Purpose of the MTN Programme
      SunREIT Capital is a special purpose vehicle incorporated specifically for the issuance of the MTNs under the MTN Programme, whose shares are held by OSK Trustees Berhad on behalf of SUNREIT (“REIT Trustee”).
      Issue 1 of the MTN Programme shall entail the issuance of RM1.56 billion MTNs in nominal value comprising the following classes:-
Class
Preliminary Rating
Amount
(up to RM’ million)
Class A MTNs
AAA
1,230
Class B MTNs
AA1
75
Class C MTNs
AA3
50
Class D MTNs
A1
152
Class E MTNs
A2
53
Total:
1,560
      The MTN Programme has an expected tenure of up to eighteen (18) years and a legal tenure of up to twenty (20) years commencing from the date of the first issuance under the MTN Programme.

      The MTNs may be issued via direct/private placement, bought deal basis or book running basis, all without prospectus.

The proceeds of the MTNs shall be utilised by the Issuer for the purpose of advancing to SUNREIT where the REIT Trustee shall utilise such proceeds for financing (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 and/or refinancing of existing/future borrowings undertaken by SUNREIT for its investment activities (including capital expenditure and the related acquisition and financing expenses) and/or working capital requirements of SUNREIT and to defray expenses incurred in relation to the MTN Programme as well as to refinance maturing MTNs on their respective maturity dates subsequent to the first issuance of the MTNs.

This announcement is dated 14 October 2011.


Announcement Info

Company NameSUNWAY REAL ESTATE INVESTMENT TRUST  
Stock Name SUNREIT    
Date Announced14 Oct 2011  
CategoryGeneral Announcement
Reference NoSR-111014-3D327

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