UEM Sunrise Issues RM295 Million IMTN For Land Acquisition And Operations

UEM Sunrise Berhad announces the successful issuance of a total of RM295 million in nominal value of Islamic Medium Term Notes under the IMTN Programme. Which together with an Islamic Commercial Papers Programme will have a combined aggregate limit of up to RM4 billion in nominal value

The property developer’s IMTNs have tenures of three years and five years and will mature on 19 September 2025 and 17 September 2027. According to the Bursa filing, the group said the proceeds will be utilised by UEM Sunrise or its subsidiaries for, the acquisition of land banks; acquisition of companies, or investments (including capital injections into UEM Sunrise’s subsidiaries, associates, and joint ventures companies)

It also adds the fund could be used for project development cost and infrastructure cost; capital expenditure; general expenditure; and refinancing of Islamic financing/outstanding loan facilities.

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