KUALA LUMPUR (Dec 15): Standard Chartered Bank Malaysia Bhd today has been appointed as the sole arranger and manager for GUINNESS ANCHOR BHD []'s (GAB) proposed debt notes of up to RM500 million.
The bank said on Thursday the commercial papers (CP) and medium term notes (MTN) programme of up to RM500 million would have a tenor of up to seven years from the date of first issue.
GAB proposed the CP and MTN programme in a move to better plan their business strategy and optimise their capital structure.
'With a tenor of seven years from the date of first issue, GAB has proposed an initial issue of CPs and MTNs to the value of RM150 million to RM400 million. The additional capital from this will be used for general corporate purposes to deepen GAB's investments in Malaysia,' it said.
GAB would use the additional capital for general corporate purposes to strengthen GAB's investments in Malaysia. GAB intends to employ a more optimal capital structure.
'As such, proceeds from the CPs and MTNs will be used to enhance its information TECHNOLOGY [] infrastructure and brewery equipment, purchase new equipment, as well as to serve its rising working capital needs,' it said.
The bank said on Thursday the commercial papers (CP) and medium term notes (MTN) programme of up to RM500 million would have a tenor of up to seven years from the date of first issue.
GAB proposed the CP and MTN programme in a move to better plan their business strategy and optimise their capital structure.
'With a tenor of seven years from the date of first issue, GAB has proposed an initial issue of CPs and MTNs to the value of RM150 million to RM400 million. The additional capital from this will be used for general corporate purposes to deepen GAB's investments in Malaysia,' it said.
GAB would use the additional capital for general corporate purposes to strengthen GAB's investments in Malaysia. GAB intends to employ a more optimal capital structure.
'As such, proceeds from the CPs and MTNs will be used to enhance its information TECHNOLOGY [] infrastructure and brewery equipment, purchase new equipment, as well as to serve its rising working capital needs,' it said.
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