TAN CHONG MOTOR HOLDINGS BERHAD ("TCMH" OR "COMPANY")ISSUANCE OF UP TO RM600 MILLION NOMINAL VALUE ASSET-BACKED MEDIUM TERM NOTES UNDER A MEDIUM TERM NOTES PROGRAMME ("MTN PROGRAMME") BY PREMIUM COMMERCE BERHAD ("PCB")
| Type | Announcement |
| Subject | TAN CHONG MOTOR HOLDINGS BERHAD (“TCMH” OR “COMPANY”) ISSUANCE OF UP TO RM600 MILLION NOMINAL VALUE ASSET-BACKED MEDIUM TERM NOTES UNDER A MEDIUM TERM NOTES PROGRAMME (“MTN PROGRAMME”) BY PREMIUM COMMERCE BERHAD (“PCB”) |
Contents :
We refer to our announcements on behalf of the Company on 21 June 2004 and 6 April 2005 in relation to the issuance of up to RM600 million nominal value medium term asset-backed notes under the MTN Programme by PCB.
We are pleased to announce that PCB has issued RM164 million nominal value medium term asset-backed notes under the first series of notes to be issued under the MTN Programme (“Notes Series 2005-A”). Notes Series 2005-A comprises Class A Notes, Class B Notes and Class C Notes.
The proceeds from the issuance of Notes Series 2005-A were used by PCB for the acquisition of hire purchase receivables from Tan Chong & Sons Motor Company Sdn Bhd (a wholly-owned subsidiary of TCMH) (“TCSM”) and to defray fees and expenses related to the issuance. TCSM will utilise the proceeds from the sale of the hire purchase receivables as working capital.
Class A Notes were issued to investors in the debt capital markets while TCSM has subscribed for the Class B Notes and Class C Notes.
Announcement Info
| Company Name | TAN CHONG MOTOR HOLDINGS BERHAD |
| Stock Name | TCHONG |
| Date Announced | 20 May 2005 |
| Category | General Announcement |
| Reference No | MM-050520-60401 |