KUCHING: Danajamin Nasional
Bhd (Danajamin) announced the issuance of the first tranche of Riverson
Corporation Sdn Bhd (Riverson) five-year RM200 million Private Debt Securities
programme, which is guaranteed by Danajamin.
Rated ‘AAA(fg)’, the issuance
amounting to RM50 million with a three-year maturity was fully subscribed, it
said in a press release yesterday. The issuance marked Riverson’s maiden foray
into the bond market. Hong Leong Investment Bank Bhd is the lead arranger for
the bond programme.
Riverson, a developer based in
Sabah, would be using the funds raised to finance the construction of its mixed
integrated commercial development project in Kota Kinabalu.
The proposed development
consisted of an international standard purpose built medical center that would
be operated by Parkway Holdings (Parkway) under the name of Gleneagles Medical
Centre, Kota Kinabalu.
Parkway, whose controlling
shareholder is Khazanah Nasional Bhd, is a leading private healthcare group in
Asia. The hospital in Sabah would be its first in East Malaysia.
With the issuance of the bonds
by Riverson yesterday, Danajamin has provided guarantees for RM3.9 billion bond
programmes from various sectors including plantation, utilities, education,
retail and manufacturing.
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