MIDF Investment Bank to advise on IMTN Programme for MSA Resources
MIDF Amanah Investment Bank Berhad (MIDF Investment) has been appointed as principal adviser, lead arranger, lead manager, facility agent and shariah adviser for MSA Resources Sdn Bhd’s (MSAR) proposed issuance of Islamic Medium-Term Notes (IMTN) programme of up to RM500 million.
MSAR is a carrier-neutral telecommunications facilities and services provider providing Malaysia-Singapore-protected connectivity via both Causeway and Second Link bridges. MSAR is currently building the Digital Super Highway Network, a brand new, highly secured, low latency network along the highways of Peninsular Malaysia, approval of which was granted by the Ministry of Works via the Malaysian Highway Authority (MHA).
This new network is being carried out through three phases; Phase 1 involves installing a new fibre optic backbone network from Johor Bahru to Bukit Kayu Hitam. Phase 2 involves connecting highways in the Klang Valley while Phase 3 will connect the states on the East Coast of Peninsular Malaysia.
The purpose of the issuance will be to refinance the current bridging finance facility, to part-finance Phases 2 and 3 of the network, for general corporate purposes, and to defray fees, costs, and expenses in relation to the proposed IMTN programme.
Senior Director/ Head of Debt Markets, Julie Gwee signed the mandate on behalf of MIDF Investment in the Digital Super Highway Network Project Officiation and Agreement Signing Ceremony which was held on 30 June 2022 at Aloft Kuala Lumpur Sentral hotel. Dato’ Charon Mokhzani, Group Managing Director of MIDF and Executive Director of MIDF Investment, and Datuk Dominic Silva, Chief Executive Officer of MIDF Investment witnessed the signing at the ceremony, which was officiated by Senior Minister of Works, YB Dato’ Sri Haji Fadilah Haji Yusof. The ceremony was also attended by representatives from Debt Markets, MIDF Investment and Group Strategic Communications who joined guests invited by MSAR including officials from the Ministry of Works.
