KUALA LUMPUR: ASIAN PAC HOLDINGS BHD [] (AsianPac), via its unit Syarikat Kapasi Sdn Bhd, on Monday, June 14 obtained the Securities Commission's approval to issue RM200 million five-year commercial papers/medium-term notes (CP/MTN) that will be guaranteed by Danajamin Nasional.
AsianPac obtained the SC approval the same day its principal adviser and lead arranger Affin Investment Bank Bhd submitted the proposal to the regulator.
AsianPac said the CPs would be issued at a discount to face value while the MTNs would be issued either at par, at a discount or at a premium to the face value.
Malaysian Rating Corporation Bhd has rated the CPs MARC1(fg) while the MTNs have been rated AAA(fg). The MTNs will be fully subscribed by Affin Investment Bank.
The proceeds will be used by Kapasi to part-finance its proposed mixed development, the Kota Kinabalu Times Square 2 project, in Sabah.
The development, located on a 15.45-acre of leasehold land in Kota Kinabalu, will consist of a retail mall with a net lettable area of not less than 673,797 sq ft, about 2,400 car park bays, and no fewer than 41 units of exterior shoplots. It also includes five blocks of serviced apartments with a minimum of 498 units and about 800 car park bays.
AsianPac obtained the SC approval the same day its principal adviser and lead arranger Affin Investment Bank Bhd submitted the proposal to the regulator.
AsianPac said the CPs would be issued at a discount to face value while the MTNs would be issued either at par, at a discount or at a premium to the face value.
Malaysian Rating Corporation Bhd has rated the CPs MARC1(fg) while the MTNs have been rated AAA(fg). The MTNs will be fully subscribed by Affin Investment Bank.
The proceeds will be used by Kapasi to part-finance its proposed mixed development, the Kota Kinabalu Times Square 2 project, in Sabah.
The development, located on a 15.45-acre of leasehold land in Kota Kinabalu, will consist of a retail mall with a net lettable area of not less than 673,797 sq ft, about 2,400 car park bays, and no fewer than 41 units of exterior shoplots. It also includes five blocks of serviced apartments with a minimum of 498 units and about 800 car park bays.
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