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NewsGlenealy proposes RM500m notes
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Glenealy proposes RM500m notes
by hlk Fri 15 Jun 2012, 21:28
Glenealy Plantations (Malaya) Bhd has proposed to undertake a Medium Term Notes (MTN) programme of up to RM500 million
in nominal value.
In a filing to Bursa Malaysia today, the company said it has
mandated Maybank Investment Bank Bhd as the principal adviser and lead arranger for the MTN Programme.
"The sole subscriber to the MTN is Malayan Banking Bhd," it said.
Glenealy said the issuance of the MTN under the MTN Programme is to fund the group's future planting and expansion programmes.
The
proceeds raised from the issue shall be utilised to finance up to 80
per cent of the company's plantation development expenses including the
construction cost of palm oil mill, acquisition of new plantation
estates and others.
"The remaining amount will be utilised for the company's general working capital requirements," it added. -- Bernama
in nominal value.
In a filing to Bursa Malaysia today, the company said it has
mandated Maybank Investment Bank Bhd as the principal adviser and lead arranger for the MTN Programme.
"The sole subscriber to the MTN is Malayan Banking Bhd," it said.
Glenealy said the issuance of the MTN under the MTN Programme is to fund the group's future planting and expansion programmes.
The
proceeds raised from the issue shall be utilised to finance up to 80
per cent of the company's plantation development expenses including the
construction cost of palm oil mill, acquisition of new plantation
estates and others.
"The remaining amount will be utilised for the company's general working capital requirements," it added. -- Bernama
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