RM600 MILLION NOMINAL VALUE ASSET-BACKED MEDIUM TERM NOTES PROGRAMME BY PREMIUM COMMERCE BERHAD- ISSUANCE OF NOTES SERIES 2010-B
BackDec 02, 2010
| Type | Announcement |
| Subject | RM600 MILLION NOMINAL VALUE ASSET-BACKED MEDIUM TERM NOTES PROGRAMME BY PREMIUM COMMERCE BERHAD - ISSUANCE OF NOTES SERIES 2010-B |
| Contents | We refer to the announcement made by Tan Chong Motor Holdings Berhad (“TCMH”) on 4 May 2010 in relation to the up to RM600 million Medium Term Notes Programme (the “MTN Programme”) established by Premium Commerce Berhad (“PCB”). We are pleased to announce that PCB has completed the fourth issuance under the MTN Programme, Notes Series 2010-B, on 2 December 2010. The RM241.75 million Notes Series 2010-B, issued in various classes and tranches, forms part of the securitization of hire purchase receivables programme undertaken by TCMH’s wholly-owned subsidiary, TC Capital Resources Sdn Bhd (the “Originator”). Proceeds from the issuance of Notes Series 2010-B were used by PCB for the acquisition of hire purchase receivables from the Originator and to defray fees and expenses related to the issuance. The Originator will utilise proceeds from the sale of the hire purchase receivables as working capital. Class A Notes and Class B Notes were issued to investors while the Originator had subscribed for the Class C Notes under Notes Series 2010-B. A summary of the principal terms of the Notes Series 2010-B is set out in the table attached below. |
Announcement Info
| Company Name | TAN CHONG MOTOR HOLDINGS BERHAD |
| Stock Name | TCHONG |
| Date Announced | 2 Dec 2010 |
| Category | General Announcement |
| Reference No | TCM-101129-3D8B8 |
Attachments
- TCHONG_021210.pdf (Size: 8,855 bytes)