PETALING JAYA: Sunway Bhd’s indirect wholly-owned subsidiary, Sunway Treasury Sdn Bhd (STSB), has established a medium-term note (MTN) programme with a tenure of 99 years from the date of the first issuance.

       The conglomerate said in a filing with Bursa Malaysia that STSB would issue the MTNs in one or more tranches and its first tranche of up to RM500mil in nominal value would be subscribed by Public Bank Bhd.

       The proceeds from tranche one MTNs would be utilised to finance or refinance STSB for any advances which STSB has granted or will grant to its related companies and subsidiary companies and/or to finance or reimburse capital expenditures and/or the working capital requirements of the Sunway group, it said.