Bursa Announcements

We refer to the announcement made by Tan Chong Motor Holdings Berhad (“TCMH”) on 23 December 2015 in relation to the RM2 billion nominal value Asset-Backed Medium Term Notes Programme (“MTN Programme”) established by Premium Commerce Berhad (“PCB”).

We are pleased to announce that PCB has completed the tenth issuance under the MTN Programme of a nominal value of RM219.75 million (“Notes Series 2016-A”) on 28 December 2016. The Notes Series 2016-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 2016-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  institutional investors while the Originator had subscribed for the Class C Notes under Notes Series 2016-A.

The Principal Adviser, Lead Arranger and Lead Manager of the MTN Programme is CIMB Investment Bank Berhad.

A summary of the principal terms of the Notes Series 2016-A is set out in the table attached below.