Published: Wednesday February 6, 2013 MYT 2:22:00 PM

Paramount Corp in RM550m private debt securities programme

By Fintan Ng

KUALA LUMPUR: Property and education group Paramount Corporation Bhd has inked two private debt securities (PDS) programmes worth RM550mil.

It said on Wednesday the deal consists of a programme for RM200mil, which allows PCB to issue perpetual bonds, which is a first for a Malaysian non-government-linked company.

It also includes a RM350 million Sukuk programme for the company's unit, KDU University College Sdn Bhd, marking Paramount Group's entry into the Islamic debt capital market.

Pramaount said the perpetual bonds provided it with access to capital to fund its growth plans, while the Sukuk would finance the building of the KDU University College campus at Utropolis in Glenmarie, Shah Alam.

The deals were put together by Hong Leong Investment Bank Bhd, OCBC Bank (Malaysia) Bhd, OCBC Al-Amin Bank Bhd and RHB Investment Bank.

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