KUALA LUMPUR (March 5): S P Setia Bhd has proposed to raise RM505 million to part finance the purchase of a piece of land in Rinching, Semenyih, Selangor.
The property company said on Monday its unit Setia EcoHill Sdn Bhd had proposed to issue commercial papers and/or medium term notes of up to RM505.0 million in nominal value.
“The notes will be issued in two tranches of MTN up to RM305 million and CP and/or MTN up to RM200 million. Tranche 1 (RM305 million) will be fully subscribed by Alliance Bank Malaysia Bhd. The primary subscriber for Tranche 2 (RM200 million) has yet to be determined,”it said.
The property company said on Monday its unit Setia EcoHill Sdn Bhd had proposed to issue commercial papers and/or medium term notes of up to RM505.0 million in nominal value.
“The notes will be issued in two tranches of MTN up to RM305 million and CP and/or MTN up to RM200 million. Tranche 1 (RM305 million) will be fully subscribed by Alliance Bank Malaysia Bhd. The primary subscriber for Tranche 2 (RM200 million) has yet to be determined,”it said.
