Paramount Corp Bhd, a property development and education group, will raise RM550 million via a RM200 million perpetual bond sale and a RM350 million sukuk programme, to be used for capital expenditure (capex) and working capital, to buy land as well as to fund a new campus in Glenmarie, Shah Alam.
Paramount will become the first private company to issue perpetual bonds. “For several months now, our team has been working with the teams at Hong Leong Investment Bank, OCBC Al-Amin Bank and RHB Investment Bank to put together a very special deal,” its executive deputy chairman Datuk Teo Chiang Quan said………………………………………..Full Article: Source