Potensi Angkasa Sdn Bhd Successfully Launched its Inaugural CP/MTN Programme

We are pleased to announce that Urban DNA Sdn Bhd (Urban DNA) via its wholly-owned special purpose vehicle, Potensi Angkasa Sdn Bhd (PASB), has successfully made its maiden issuance of medium term notes (Notes) of RM22.85 million recently, under its Commercial Paper/Medium Term Note Programme of RM90.0 million in nominal value (CP/MTN Programme)

Kenanga Investment Bank Berhad (KIBB) played a significant role which led to the success of this transaction.

The CP/MTN Programme is the first-of-its-kind, where each tranche of the Notes is secured with a specific ‘The RuMa Residence’ property unit (Secured Asset). Investors of the Notes have the option to purchase the Secured Asset(s) tagged to its invested tranche(s) at a discount, to both own ‘The RuMa Residence’ unit and to redeem its own Notes.

This innovative funding structure is further strengthened with a corporate guarantee from Urban DNA and an undertaking by the main shareholder of Urban DNA, ASEANA Properties Limited, to acquire the Secured Asset(s) in any event of default.

The proceeds from the issuance will be utilised to finance, amongst others, the investment activities and/or other general corporate purposes of PASB and Urban DNA.

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