Reliance Pacific Berhad ("RPB" Or "Company") -Proposed Issue Of Rm100.0 Million Nominal Value Fixed Rate Secured Serial Bonds ("Proposed Bonds Issue").
BackMar 05, 2001
| General Announcement Reference No MM-010305-62378 |
| Submitting Merchant Bank | : | PERDANA MERCHANT BANKERS BERHAD |
| Company Name | : | RELIANCE PACIFIC BERHAD |
| Stock Name | : | RPB |
| Date Announced | : | 05/03/2001 |
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| Type | : | Announcement |
| Subject | : | RELIANCE PACIFIC BERHAD ("RPB" or "Company") -Proposed Issue of RM100.0 Million Nominal Value Fixed Rate Secured Serial Bonds ("Proposed Bonds Issue"). |
Contents :
1.0 INTRODUCTION
The Board of Directors of RPB ("the Board") is pleased to announce that the Company is proposing to issue RM100.0 Million Nominal Value Fixed Rate Secured Serial Bonds ("Bonds").
2.0 DETAILS OF THE PROPOSED BONDS ISSUE
Perdana Merchant Bankers ("Perdana Bankers") has been appointed by the Board as the Adviser/Lead Arranger and Facility Agent for the Proposed Bonds Issue. Brief details of the Proposed Bonds Issue is set out below.
2.1 Tenor of the Bonds
The Bonds will be issued in three (3) series with tenors of three (3) years, four (4) years and five (5) years respectively from the date of issue of the Bonds.
The Bonds shall bear a fixed coupon rate of 4.00% per annum, payable semi-annually in arrears.
2.3 SecurityThe Bonds shall be secured by way of a debenture over all assets of Fortune Valley Sdn Bhd (a wholly owned subsidiary of RPB), fixed charges over identified properties owned by Admiral Cove Development Sdn Bhd (a subsidiary of RPB) and Fortune Valley Sdn Bhd and fixed charge over proceeds in the Debt Service Reserve Account and Sinking Fund Account.
2.4 Utilisation of proceedsThe proceeds from the Proposed Bonds Issue will be utilised to refinance the existing bank borrowings of RPB and its identified subsidiaries, to pay down the existing overdraft facilities of RPB Group and for working capital of RPB and identified subsidiaries.
2.5 Status and mode of issue of the BondsThe Bonds, which will be issued on a bought deal basis, will not be listed on the Kuala Lumpur Stock Exchange.
2.6 Selling RestrictionsThe Bonds may not be offered or sold directly or indirectly, nor may any document or other material in connection therewith be distributed in Malaysia other than to persons falling within any of the categories of persons specified in Schedule 2 and Schedule 3 to the Securities Commission Act 1993.
3.0 APPROVALS REQUIRED
The Proposed Bonds Issue is subject to the approval of the Securities Commission.
Further announcements will be made to the Kuala Lumpur Stock Exchange after approval from the Securities Commission on the Proposed Bonds Issue is obtained.
Bursa Announcement
