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UEM Sunrise issues 600M-ringgit Islamic medium-term notes

UEM Sunrise Bhd. issued 600 million ringgit worth of three tranches of Islamic medium-term notes.

The three-, five- and seven-year notes were issued under the company's 2016 Islamic medium-term notes program and will mature Dec. 11, 2020, Dec. 9, 2022, and Dec. 11, 2024, respectively.

Proceeds from the issuance will be used to redeem 600 million ringgit of UEM's outstanding Islamic medium-term notes maturing Dec. 21. The notes were issued Dec. 21, 2012, under UEM's 2.0 billion ringgit Islamic medium-term notes program established in 2012.

As of Dec. 8, US$1 was equivalent to 4.09 Malaysian ringgit.