KUALA LUMPUR – Danajamin Nasional Berhad, the country’s first Financial Guarantee Insurer, announced today that it is collaborating with CIMB Islamic Bank Berhad and RHB Islamic Bank Berhad in a syndicated financing worth RM420 million for Puncak Wangi Sdn Bhd.
Puncak Wangi is a wholly-owned subsidiary of Malaysian Resources Corporation Berhad. Funds from the fund raising exercise will be used to develop a 32-storey office building in PJ Sentral which will be leased to a leading mobile service provider upon completion.
The RM420 million syndicated financing comprises of a Danajamin guaranteed RM200 million 8-Year Medium Term Notes programme (“MTN programme”) and a RM220 million Islamic term loan facility provided jointly by CIMB Islamic and RHB Islamic. The first tranche of RM40 million MTN, rated AAA(fg), was successfully issued today and fully subscribed by investors.
Mohamed Nazri Omar, Chief Executive Officer of Danajamin said, “This syndicated fundraising is testament of how collaboration with Malaysia’s leading banks together with Danajamin can unlock value i.e., financing solutions, for our clients. Danajamin is proud to be part of this collaboration which will contribute towards the growth and development of the Petaling Jaya landscape.”
CIMB Islamic Bank Berhad, RHB Investment Bank Berhad and Alliance Islamic Bank Berhad are the joint principal advisers and joint lead arrangers for the MTN programme.
“The programme implementation will be sustainable i.e. over a period of 3 years (Form 4 to post SPM), targeting to reach out and support 80-100 students, who will undergo various pragmatic programmes, rediscovering their strengths, developing their leadership skills and sharpening their critical thinking abilities”, concluded En. Mohamed Nazri.
For more information about Danajamin, its services as well as its leadership, kindly visit our website at www.danajamin.com
Danajamin Nasional Berhad (Danajamin) is Malaysia’s first and only Financial Guarantee Insurer. Established in May 2009, Danajamin’s objective is to ensure that financially viable corporates continue to be able to access the bond market for their long term financing needs and at the same time, be an enabler to further develop the domestic bond and sukuk market.
To date, Danajamin has provided its guarantee for RM7 billion bond/sukuk programmes issued by 25 companies across various sectors; and brought about a market impact of RM10 billion through its risk sharing collaboration with partner banks.
Danajamin has been accorded the highest rating ‘AAA’ by both RAM Rating Services Berhad (RAM) and Malaysia Rating Corporation Berhad (MARC). It is regulated and supervised by Bank Negara Malaysia under the Financial Services Act 2013. Danajamin is equally owned by Minister of Finance Incorporated and Credit Guarantee Corporation Malaysia Berhad.
Today, Danajamin is well positioned to further enable the development of Malaysia’s capital market. Growing from strength to strength, Danajamin’s total assets and shareholders’ equity stands at RM1.9 billion and RM1.2 billion respectively (as at 31 December 2013).
In a Snapshot
Danajamin’s key objectives are to:
- Provide financial guarantee to enable financially viable companies access to the PDS market to obtain financing, with emphasis on long-term financing
- Further enable the development of the domestic PDS market as an alternative source of financing to complement the banking industry
- Stimulate economic growth by improving access to capital for Malaysian companies
Danajamin aims to:
- Facilitate a wider range of credit-worthy companies to raise capital via the bond/sukuk market
- Encourage smaller/non-traditional issuers to raise capital via the bond/sukuk market
- Provide access to long-term capital for a wider range of companies
Sharie Elina Ibrahim
Tel : (03) 2299 2069, (012) 6826 300