SunREIT to raise RM10bil via perpetual note programme
PETALING JAYA: Sunway Real Estate Investment Trust (SunREIT) is looking to raise RM10bil via a perpetual note programme to finance its investment activities and working capital as well as repay borrowings.
In a filing with Bursa Malaysia, Sunway REIT Management Sdn Bhd, the management company for SunREIT, said yesterday its special-purpose vehicle (SPV) SunReit Perpetual Bond Bhd (SPBB) had proposed to establish a perpetual note programme with a nominal value of RM10bil.
It said the first issuance of the securities under the programme is expected to be issued by the second quarter of 2019.
SunREIT said the perpetual securities would constitute direct, unsecured and subordinated obligations of SPBB. They would be issued with a perpetual tenure that does not have a fixed maturity date.
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