RM600 Million Nominal Value Asset-backed Medium Term notes Programme By Premium Commerce Berhad- Issuance Of Notes Series 2009-A
BackJun 19, 2009
| Type | Announcement |
| Subject | RM600 MILLION NOMINAL VALUE ASSET-BACKED MEDIUM TERM NOTES PROGRAMME BY PREMIUM COMMERCE BERHAD - ISSUANCE OF NOTES SERIES 2009-A |
| Contents | We refer to the announcements made by and on behalf of Tan Chong Motor Holdings Berhad (“TCMH”) on 21 June 2004, 6 April 2005, 20 May 2005 and 17 April 2009 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 second issuance under the MTN Programme, Notes Series 2009-A on 19 June 2009. The RM159 million of Notes Series 2009-A, issued in various classes and tranches, forms part of the securitization of hire purchase receivables programme undertaken by TCMH’s wholly-owned subsidiaries, Tan Chong & Sons Motor Company Sdn Bhd and TC Capital Resources Sdn Bhd (collectively the “Originators”). Proceeds from the issuance of Notes Series 2009-A were used by PCB for the acquisition of hire purchase receivables from the Originators and to defray fees and expenses related to the issuance. The Originators will utilise proceeds from the sale of the hire purchase receivables as working capital. Class A Tranche 1 Notes and Class A Tranche 2 Notes were issued to investors in the debt capital markets while TCMH had subscribed for the remainder of the Notes Series 2009-A. A summary of the principal terms of the Notes Series 2009-A is as set out in the table attached below. |
Announcement Info
| Company Name | TAN CHONG MOTOR HOLDINGS BERHAD |
| Stock Name | TCHONG |
| Date Announced | 19 Jun 2009 |
| Category | General Announcement |
| Reference No | TC-090617-58184 |