Friday, November 25, 2011

Guinness Anchor plans to issue RM500m debt notes

KUALA LUMPUR (Nov 25): GUINNESS ANCHOR BHD [] (GAB) plans to issue commercial papers/ medium term notes (CP/MTN) with an aggregate nominal value of up to RM500 million.

It said on Friday, the proposed debt papers programme would provide it with an alternative source of financing and enable it to effectively plan and manage its funding costs and requirements.

'The proceeds of the proposed CP/MTN programme shall be utilised for general corporate purposes including repayment of bank borrowings, if any,' it said.

GAB said the proposed programme was assigned a rating of AAA by RAM Rating Services Bhd.

Standard Chartered Bank Malaysia Bhd was appointed principal adviser, lead arranger, lead manager and book runner for the proposed programme.

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