IGB REIT Issues Up To RM5 Billion Medium-Term Notes To Fund Investment Activities

IGB REIT Issues Up To RM5 Billion Medium-Term Notes To Fund Investment Activities

PETALING JAYA, 21 August: IGB Real Estate Investment Trust (IGB REIT) is issuing medium-term notes (MTNs) of up to RM5 billion in nominal value to raise funds for its investment activities.

In a filing with Bursa Malaysia, IGB REIT said the proceeds raised from the issue of MTNs may be used to finance its investment activities such as capital expenditure, asset enhancement and related acquisitions and financing expenses.

The proceeds could also be used to refinance its existing and/or future borrowings/facilities as well as to fund its working capital requirements.

The MTNs will be issued by IGB REIT Capital Sdn Bhd, a special purpose vehicle wholly-owned by IGB REIT via MTrustee Bhd. The MTN Programme was lodged with the Securities Commission Malaysia on Friday.

The MTN Programme will have a tenure of 20 years from the date of the first issue.

Hong Leong Investment Bank Bhd is the principal adviser, lead arranger and lead manager for the MTN Programme.

IGB REIT’s share price closed unchanged at RM1.74 on Friday with a total of 781,700 shares traded, giving it a market capitalisation of RM6.07 billion.

— THE SUN

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