SunREIT Capital is a special-purpose vehicle formed specifically for the issuance of the MTNs under the programme whose shares are held by OSK Trustees Bhd on behalf of Sunway Real Estate Investment Trust (SunREIT).
SunREIT Capital is the wholly owned subsidiary of SUNREIT, which in turn is managed by Sunway REIT Management.
HSBC Bank Malaysia Bhd, Maybank Investment Bank Bhd and RHB Investment Bank Bhd are the joint principal advisers and joint lead arrangers for the programme.
The first issue of the programme shall entail RM1.56bil MTNs in nominal value comprising of a few classes.
The programme has an expected tenure of up to 18 years and a legal tenure of up to 20 years.
The proceeds of the MTNs shall be utilised for the purpose of advancing to SunREIT where the REIT Trustee shall utilise such proceeds for financing (including repayment of cash used by SunREIT to part finance) the investment activities of SunREIT or refinancing of its existing and future borrowings for investment activities.
The proceeds will also be used for working capital requirements of SunREIT and to defray expenses incurred in relation to the MTN programme as well as to refinance maturing MTNs on their respective maturity dates.
By The Star
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