BToto to issue medium-term notes of up to RM800m

PETALING JAYA: Berjaya Sports Toto Bhd (BToto) proposes a medium-term notes (MTN) programme of up to RM800 million in nominal value to refinance its existing borrowings and fund general corporate purposes.
The group said in a filing with the stock exchange it includes but not limited to working capital requirements, future investments, and other general purposes in the ordinary course of business.
BToto’s wholly owned subsidiary Sports Toto Malaysia Sdn Bhd had on June 15 lodged with the Securities Commission Malaysia its proposal to establish the MTN programme.
The programme will have a tenure of up to 15 years and the first issuance under the MTN programme will be made within 60 business days from the lodgement date. It has been accorded a preliminary rating of AA-/Stable by Malaysian Rating Corp Bhd.
CIMB Investment Bank Bhd and Maybank Investment Bank Bhd have been appointed as the joint principal advisers, joint lead arrangers and joint lead managers for the MTN programme.