KUALA LUMPUR: Berjaya Sports Toto Bhd’s (BToto) wholly-owned unit Sports Toto Malaysia Sdn Bhd plans to raise as much as RM800 million via bonds issuance.
In its filing with Bursa Malaysia today, the number forecast operator said it will undertake a medium term notes (MTN) programme of up to RM800 million.
The MTN programme has been accorded a preliminary AA- or “stable” rating by Malaysian Rating Corp Bhd and will have a tenure of up to 15 years, said BToto.
This sum of money will go to refinance existing borrowings, defray issuance expenses and fund general corporate purposes, it added.
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.
At the close of trading today, BToto shares dropped three sen or 1.14 per cent to RM2.60, with 2.26 million shares changing hands. This translate BToto to be worth RM3.51 billion.