BUSINESS

HENGYUAN SETS RM5 BLN UNRATED MTN WITH MULTI-CURRENCY REVOLVING CREDIT FACILITIES

12/09/2022 06:45 PM

KUALA LUMPUR, Sept 12 (Bernama) -- Hengyuan Refining Company Bhd is establishing an unrated medium-term notes (MTN) programme and has secured multi-currency revolving credit facilities.

It said the unrated MTN programme of up to RM5 billion in nominal value will be issued in tranches over a tenure of 30 years via bought deal or private placement.

“The acceptance of the multi-currency revolving credit facilities include credit facilities of up to US$235.0 million and RM250.0 million.

“The multi-currency revolving credit facilities are offered by AmBank (M) Bhd, China Construction Bank Corp Labuan Branch and Malayan Banking Bhd,” it said in a filing with Bursa Malaysia today.

The oil refining company said the purpose of the funds attained will be used to refinance existing loans, fund the medium-term growth and working capital, and allow the company to proceed with its planned upgrade and maintenance projects for its refinery.

Hengyuan added that the financing is not expected to have a material effect on the net assets of the company for the financial year ending Dec 31, 2022.

AmInvestment Bank Bhd and Maybank Investment Bhd are the joint principal advisers, joint lead arrangers and joint lead managers while the Malaysian Trustees Bhd is the trustee.

-- BERNAMA

 

 


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