OSK establishes MTN programme

PETALING JAYA: OSK Holdings Bhd has established a medium term note (MTN) programme, which together with the sukuk programme that was initially lodged on March 9, 2018, will have a combined limit of up to RM1.8 billion nominal value in aggregate.
In a filing with Bursa Malaysia, OSK said its wholly owned subsidiary OSK I CM Sdn Bhd has lodged the MTN programme and re-lodged the sukuk programme with the Securities Commission Malaysia.
The MTN programme is unrated and has a perpetual tenure. The MTNs to be issued under the MTN programme will have a tenure of more than one year.
The proceeds raised from the issuance of the MTNs will be used to fund the investment activities, capital expenditure, working capital requirements, general corporate purposes and refinancing of existing financings/borrowings of the OSK group, as well as to defray all fees and expenses related to the establishment of the MTN programme.
Maybank Investment Bank Bhd and RHB Investment Bank Bhd are the joint principal advisers, joint lead arrangers, joint lead managers and joint bookrunners for the programmes.
OSK’s share price fell 0.51% or half sen to close at 97 sen today, with a total of 385,700 shares changing hands.