Chan Say Yeong

Paramount inks RM550m private bonds

Paramount Corporation Bhd (PCB) signed two private bond programmes worth RM550 million today with Hong Leong Investment Bank Bhd, OCBC Bank and RHB Investment Bank. The deals consist of RM200 million Private Debt Securities programme, which allows PCB to issue RM200 million perpetual bonds, and a RM350 million Sukuk Ijarah Programme for PCB's unit, KDU University College Sdn Bhd. Group Chief Executive Officer Chan Say Yeong said the perpetual bonds provide PCB with access to capital to fund its growth plans, while the Sukuk will finance the building of the new KDU UC campus at Ultrapolis in Glenmarie, Shah Alam.

Paramount to raise RM550m via perpetual bonds, sukuk

Paramount Corporation will raise RM550 million via a RM200 million perpetual bond sale and a RM350 million sukuk programme, which was put together by Paramount in cooperation with Hong Leong Investment Bank, OCBC Al-Amin Bank and RHB Investment Bank. The money will be used for capital expenditure and working capital, to buy land as well as to fund a new campus. Paramount will become the first private company to issue perpetual bonds which will be issued to institutional investors.

Paramount Corp signs RM550m bond deals

Paramount Corporation Bhd (PCB) agreed two private bond programmes worth RM550 million with Hong Leong Investment Bank Bhd, OCBC Bank and RHB Investment Bank. The deals consist of RM200 million private debt securities programme, which allows PCB to issue RM200 million perpetual bonds, and a RM350 million Sukuk Ijarah Programme for PCB’s unit, KDU University College Sdn Bhd (KDU UC). According to group CEO Chan Say Yeong, the fund arising from the bonds would be used for PCB’s future expenditure, increase landbank for development, investment in the education business and for working capital purposes.

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