Thursday, August 4, 2011

HLFG gets SC nod for RM1.8b debt notes

KUALA LUMPUR: HONG LEONG FINANCIAL GROUP BHD [] (HLFG) has received the Securities Commission's approval to undertake a master debt issuance programme of up to RM1.80 billion in nominal value.

It said on Thursday, Aug 4 the corporate exercise comprised of a commercial papers (CP) programme of up to RM1.80 billion and a medium term notes (MTN) programme of up to RM1.80 billion in nominal value.

'At any point in time, the aggregate outstanding balance of the CPs and MTNs shall not exceed RM1.80 billion, being the maximum amount allowed under the master debt programme,' it said.

HLFG said the tenure of the CP programme would be seven years and the MTN programme 20 years from the date of first issuance.

'Proceeds raised from the master debt programme will be utilised to repay borrowings, for general investments and/or working capital purposes,' it said.

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