PUTRAJAYA: Perbadanan PR1MA Malaysia and four banks today signed an agreement to raise RM5 billion via a combination of sukuk programmes and sydicated credit facility.
Aimed at providing medium-term liquidity for its ongoing project commitments, proceeds from the proposed exercise will be used to finance 89 of PR1MA's executed projects nationwide, comprising 89,449 units of homes with an estimated gross development value (GDV) of over RM23 billion.
The signing was witnessed by Prime Minister Datuk Seri Najib Razak.
Maybank Investment Bank Bhd is the coordinating bank, facility agent as well as one of the joint lead arrangers/joint lead managers for the proposed fundraising exercise.
Other joint lead arrangers/joint lead managers are Amlnvestment Bank Bhd, CIMB Investment Bank Bhd and RHB Investment Bank Bhd.
The respective banking groups are also the financiers for the syndicated revolving credit facility.