UEM Sunrise Bhd has completed a RM70 million issuance of Islamic medium-term notes (IMTN) in nominal value. The property developer said the new IMTN, which has a three-year tenure, matures on April 7, 2026.
The proceeds would be utilised for the company and its subsidiaries’ Shariah-compliant general corporate purposes, it said in a filing with Bursa Malaysia today.
It would be used to buy land and companies, for investments, to finance project development and infrastructure cost, capital and general expenditures as well as to refinance Islamic financing or outstanding loan facilities, it said. UEM Sunrise shares rose 3.64 per cent to 28.5 sen with 21.29 million shares changing hands at today’s close.
