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 Issuer is a special purpose vehicle whose shares are held by OSK Trustees Berhad as trustee for SUNREIT (“Trustee”) to undertake the Proposal.
2. DETAILS OF THE CP PROGRAMME
The respective limit of the CP Programme shall be as follows:
(a) RM1.25 billion in nominal value for the first three (3) years (commencing on the date of first issuance of the commercial paper(s) to be issued from time to time under the CP Programme (“CP(s)”); and
(b) RM1.6 billion in nominal value thereafter until expiry of the CP Programme.
The aggregate outstanding nominal value of the CPs issued under the CP Programme shall not exceed the applicable programme limit at any one time.
The CPs may be issued for various tenures ranging from one (1), two (2), three (3), six (6), nine (9) or twelve (12) months, provided always that the CPs shall mature prior to the expiry of the Tenure.
The CPs will be issued at a discount to face value and the issue price shall be determined closer to the date of each issuance. Any amount of CPs that has been issued may be reissued or rolled over within the limit and the Tenure.
The CP Programme has been accorded a rating of P1(s) by RAM Rating Services Berhad (“RAM Ratings”).
The CPs may be issued via competitive tender, direct or private placement, bought deal basis or book running basis, all without prospectus at the option of the Issuer.
The CPs are to be underwritten by Public Bank Berhad (“PBB”) up to RM1.6 billion in nominal value for CPs rated P1, P2 and P3 (or their respective equivalent) by RAM Ratings. At all times, the amount underwritten will be equal to the programme limit of the CP Programme (being RM1.25 billion for the first three (3) years and RM1.6 billion thereafter). PBB reserves the right to sell down all or part of its underwriting commitment.
3. UTILISATION OF THE PROCEEDS
This announcement is dated 15 March 2012.
|Company Name||SUNWAY REAL ESTATE INVESTMENT TRUST|
|Date Announced||15 Mar 2012|