Primary Collaterised Loan Obligation Transaction
BackNov 08, 2002
| General Announcement Reference No RP-021108-49930 |
| Company Name | : | RELIANCE PACIFIC BERHAD |
| Stock Name | : | RPB |
| Date Announced | : | 08/11/2002 |
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| Type | : | Announcement |
| Subject | : | PRIMARY COLLATERISED LOAN OBLIGATION TRANSACTION |
Contents :
1.0 Introduction
The Board of Directors of Reliance Pacific Berhad ('RPB') wishes to announce that on 6 November 2002, RPB has signed a Facility Agreement with Affin Bank Berhad and Aegis One Berhad for unsecured fixed rate term loan facility of RM45,000,000.00 ("the Facility"). The Facility is for a period of five (5) years.
2.0 Rationale
The purpose for the above transaction is for the repayment of existing banking facilities which have higher interest rates and for working capital requirements of the Company.
3.0 Financial Effects
The Facility will not have any material effects on the Company's issued and paid up share capital, net tangible assets and earnings per share of the RPB Group for the financial year ending 31st March 2003.
None of the Directors or substantial shareholders of the Company or persons connected to them has any interest, direct or indirect in the above transaction.
5.0 The above transaction is not subject to shareholders' or other regulatory bodies approval.Bursa Announcement
