Published: Friday November 30, 2012 MYT 4:58:00 PM

Danajamin guarantees Bolton's RM230m Sukuk

KUALA LUMPUR: Danajamin Nasional Bhd, the country's financial guarantee insurer, has provided guarantees for RM5.54bil worth of sukuk and bond programmes to date, including the latest guarantee for Bolton Bhd's Islamic facilities.

Danajamin is guaranteeing Bolton's seven year RM230mil Islamic Medium Term Notes (IMTN) programme, of which a total of RM150mil sukuk was issued in three tranches and fully subscribed.

The tenure of these tranches ranges from five to seven years and each tranche was issued with a AAAIS(fg) rating.

Proceeds raised from the sukuk issuance will go towards financing land acquisition and also development costs for Bolton's new development in Sungai Long.

This RM230mil Danajamin-guaranteed IMTN programme is part of a RM370mil financing solution package for Bolton's capital expenditure and business expansion needs.

Affin Investment Bank Bhd is the Principal Adviser and Lead Arranger for the transaction. Bolton Bhd is one of Malaysia's oldest property developer.

Primarily involved in property development, its flagship developments comprise notably of Taman Tasik Prima in Puchong, Selangor, Tijani Bukit Tunku in Kuala Lumpur and Surin in Penang.- Bernama

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