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Property News

UEM Sunrise issues RM350 mil in Islamic medium-term notes

KUALA LUMPUR (Sept 29): UEM Sunrise Bhd has issued Islamic medium-term notes (IMTNs) worth RM350 million in nominal value.
According to a filing on Friday, the property developer issued the new IMTNs in two tranches: a RM200 million first tranche with a five-year tenure and a RM150 million second tranche with a seven-year tenure.
The first tranche will mature on Sept 29, 2028, while the second matures on Sept 27, 2030.
The notes were part of its IMTN programme, which together with an Islamic commercial papers programme, have a combined aggregate limit of up to RM4 billion.
UEM Sunrise said the proceeds from the new IMTNs will be used for the group’s Shariah-compliant general corporate purposes.
It explained that this includes, acquisition of new landbank, companies, investments, project development and infrastructure cost, capital expenditure, general expenditure, and refinancing of Islamic financing or outstanding loan facilities.
Shares in UEM Sunrise closed one sen or 1.2% higher at 84.5 sen, giving the group a market capitalisation of RM4.25 billion.
UEM Sunrise is one of EdgeProp START’s strategic partners. The MINH in Mont’Kiara is a development highlighted in this partnership. Check out the details here.  
All UEM Sunrise​ homebuyers also get to enjoy rewards worth up to RM3,888 and stand a chance to win a set of JBL Bar 1300 speakers worth RM7,999 when you sign up on EdgeProp START from now till Dec 31.
Looking to buy a home? Sign up for EdgeProp START and get exclusive rewards and vouchers for ANY home purchase in Malaysia (primary or subsale)!

Source: EdgeProp.my

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