Friday 29 Mar 2024
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KUALA LUMPUR (Nov 20): Financial guarantee insurer Danajamin Nasional Bhd has teamed up with CIMB Islamic Bank Bhd and RHB Islamic Bank Bhd in a syndicated financing worth RM420 million for Malaysian Resources Corp Bhd (MRCB).

Funds from the fund raising exercise, made through MRCB's wholly-owned unit Puncak Wangi Sdn Bhd, will be used to develop a 32-storey office building in PJ Sentral, Petaling Jaya, which will be leased to a leading mobile service provider upon completion. 

The RM420 million syndicated financing comprises a Danajamin-guaranteed RM200 million eight-year Medium Term Notes (MTN) programme and a RM220 million Islamic term loan facility provided jointly by CIMB Islamic Bank and RHB Islamic Bank.

In a statement today, Danajamin said the first tranche of RM40 million MTN, rated AAA(fg), was successfully issued today and fully subscribed by investors.

“This syndicated fundraising is testament of how collaboration with Malaysia’s leading banks together with Danajamin can unlock value, that is, financing solutions for our clients," said Danajamin chief executive officer Mohamed Nazri Omar said.

CIMB Islamic Bank, RHB Investment Bank and Alliance Islamic Bank Bhd are the joint principal advisers and joint lead arrangers for the MTN programme.
 

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