News

We refer to the announcement made by Tan Chong Motor Holdings Berhad ("TCMH") on 2 December 2013 in relation to the up to RM2 Billion Medium Term Notes Programme ("MTN Programme") established by Premium Commerce Berhad ("PCB"). 

We are pleased to announce that PCB has completed the eighth issuance under the MTN Programme of a nominal value of RM198.25 million (“Notes Series 2014-A”) on 14 November 2014. The Notes Series 2014-A, issued in various classes and tranches, forms part of the securitization of hire purchase receivables programme undertaken by TCMH’s wholly-owned subsidiary, TC Capital Resources Sdn Bhd (“Originator”).

Proceeds from the issuance of Notes Series 2014-A were used by PCB for the acquisition of hire purchase receivables from the Originator and to defray fees and expenses related to the issuance. The Originator will utilise proceeds from the sale of the hire purchase receivables as working capital.

Class A Notes and Class B Notes were subscribed by broad base of investors while the Originator had subscribed for the Class C Notes under Notes Series 2014-A.

A summary of the principal terms of the Notes Series 2014-A is set out in the table attached below.