SENDAI

0.295

-0.02 (-6.3%)

OTHERS EVERSENDAI CORPORATION BERHAD (the "Company") - Acceptance of Syndicated Term Loan Facility of USD115 million

EVERSENDAI CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description
EVERSENDAI CORPORATION BERHAD (the "Company")  - Acceptance of Syndicated Term Loan Facility of USD115 million

1. INTRODUCTION

Pursuant to Part C of Chapter 9, Paragraph 9.04 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Company wishes to announce that it has accepted a 5-year syndicated term loan facility of USD115 million from MBSB Bank Berhad, Export-Import Bank of Malaysia Berhad, United Overseas Bank (Malaysia) Berhad and Commercial Bank International PSC (the “Facility”).

 

2. INFORMATION ON THE FACILITY

The Facility will be used for redemption of the outstanding sum for the 5-year syndicated term loan facility of USD102 million from First Abu Dhabi Bank PJSC, Export-Import Bank of Malaysia Berhad and Commercial Bank International PSC. The remainder USD13 million shall be used for working capital of the Group.

 

3. FINANCIAL EFFECTS

3.1       Share capital and shareholdings of substantial shareholders

The Facility is not expected to have any effect on the share capital of the Company nor the shareholdings of the Company’s substantial shareholders.

3.2       Earnings

The Facility will result in the Company incurring interest expense. Nevertheless, the Facility would be utilised to fund income generating activities, and such activities are expected to contribute positively to the Company’s earnings.

3.3       Net assets and gearing

The Facility is not expected to have any material effect on the net assets and gearing of the Company.

 

 

4. DIRECTORS' AND MAJOR SHAREHOLDERS' INTEREST

None of the Directors or major shareholders or persons connected with the Directors or major shareholders of the Company has any direct or indirect interest in the Facility.

 

6. DIRECTORS' STATEMENT

The Board of Directors of the Company is of the opinion that the acceptance of the Facility is in the best interest of the Company.

 

This announcement is dated 1st November 2019

 






Announcement Info

Company Name EVERSENDAI CORPORATION BERHAD
Stock Name SENDAI
Date Announced 01 Nov 2019
Category General Announcement for PLC
Reference Number GA1-01112019-00082