KUALA LUMPUR: MISC Bhd's wholly-owned unit, MISC Capital Two (Labuan) Ltd, has lodged with the Securities Commission Malaysia (SC) the relevant information and documents in respect of the issuance of Global Medium Term Note (GMTN) programme of up to US$3.0 billion (US$1= RM4.18) in nominal value.

       In a filing with Bursa Malaysia today, MISC said the GMTN programme would provide the group the flexibility to raise medium- to long-term funding to meet its business funding requirements as and when required, including capital structure optimisation, general capital expenditure, working capital, and refinance existing borrowings.

       "The GMTN programme does not have a fixed tenure. However, each series of notes issued under the programme will have such maturities as may be agreed between MISC Capital Two and the relevant dealer," it said.

       MISC said the notes would be offered and sold in the United States (US) only to qualified institutional buyers and certain non-US persons in offshore transactions outside the US.

       It added that the notes issued under the programme may be listed on Bursa Malaysia Securities Bhd (under the exempt regime), Labuan International Financial Exchange Inc and Singapore Exchange Securities Trading Ltd.

       Maybank Investment Bank Bhd has been appointed as the sole principal adviser for the programme. - Bernama