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Wednesday September 12, 2012

Mulpha issues RM200m notes due Sept 2014


PETALING JAYA: Mulpha International Bhd (MIB), through its wholly-owned subsidiary Mulpha SPV Ltd, has issued US$65mil (RM200.79mil) nominal amount of zero coupon notes due September 10, 2014.

The group told Bursa Malaysia that the notes were guranteed by it.

It said the notes would be listed on the Labuan International Finance Exchange.

“The proceeds of US$55mil (RM169.89mil) from the issuance of the notes will be utilised to partly fund the subscription by MIB of its full entitlement under an underwritten six or seven accelerated non-renounceable pro-rata entitlement offer of new fully-paid ordinary stapled securities by FKP Property Group, 26.22% associate company of MIB which is currently listed on the Australian Stock Exchange,” it said.

It added that the issuance was not expected to have material effect on the earnings and net assets of the group for the financial year ending Dec 31.

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