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LANDMARKS
LANDMARKS BERHAD ("Landmarks")
Proposed Issue of RM185,000,000 Nominal Value Redeemable Secured
Serial Bonds ("Proposed Bonds Issue")
1. Introduction
1.1 Landmarks is pleased to announce that Ikatan Perkasa
Sdn Bhd ("IPSB"), a wholly owned subsidiary of Landmarks,
proposes to issue RM185,000,000 nominal value redeemable secured
serial bonds ("Bonds").
1.2 The Proposed Bonds Issue is part of the
proposed debt restructuring exercise to be undertaken by Landmarks
which was announced on 11 June 2001.
2. The Proposed Bonds Issue
2.1 The Proposed Bonds Issue will be issued in the following
series and in the form of negotiable coupon bearing bonds
:-
Series
Nominal Value Coupon (per annum) Maturity
(No. of years
from date of issue) |
| 1. RM15,000,000 6.50% 2.5 years |
6. RM15,000,000 6.75% 5.0 years |
| 2. RM15,000,000 6.50% 3.0 years |
7. RM15,000,000 7.00% 5.5 years |
| 3. RM15,000,000 6.50% 3.5 years |
8. RM15,000,000 7.00% 6.0 years |
| 4. RM15,000,000 6.50% 4.0 years |
9. RM15,000,000 7.25% 6.5 years |
| 5. RM15,000,000 6.75% 4.5 years |
10. RM50,000,000 7.25% 7.0 years |
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2.2 The Bonds will have a total nominal value
of RM185,000,000 and will be issued at a discount. The Bonds
will carry a coupon rate as set out above and interest will
be paid to the investors semi-annually in arrears.
2.3 The Bonds are expected to be issued in the early part
of year 2002 and will have maturity dates of between 2 ½
years and 7 years from the date of issue, as set out in paragraph
2.1 above. IPSB may at any time prior to the maturity date,
purchase the Bonds by tender for cancellation from the open
market. The Bond Investors shall provide IPSB with a one-time
call option at the end of the 5th year from the date of issue
based on a premium (to be determined at the time of issue)
payable at the time the redemption is made.
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