DiGi Telecommunications Sdn Bhd signs RM300.0 million Fixed Rate Term Loan Facility Agreement with Syndicate of Banks
DiGi Telecommunications Sdn Bhd signs RM300.0 million Fixed Rate Term Loan Facility Agreement with Syndicate of Banks
Kuala Lumpur, April 26, 2005 - DiGi Telecommunications Sdn Bhd ("DiGi"), a wholly-owned subsidiary of DiGi.Com Berhad, signed an agreement on April 11, 2005 with four (4) banks for a Ringgit-denominated RM300.0 million syndicated fixed-rate term loan facility ("TL Facility"). The TL Facility, which is unsecured, will be utilised to refinance DiGi's existing borrowings and for working capital purposes.
The RM300.0 million TL Facility comprises three (3) tranches of RM100.0 million each, with a bullet repayment at the end of the respective tenures of each tranche of three (3), four (4) and five (5) years.
Commerce International Merchant Bankers Berhad and Bumiputra Commerce Bank Berhad are the Joint Lead Arrangers for the TL Facility and the syndicate of lenders are as follows:
- AmMerchant Bank Berhad
- Bumiputra Commerce Bank Berhad
- Malayan Banking Berhad
- Standard Chartered Bank Berhad
"The current low interest rate regime offers DiGi an opportunity to lock-in a new long-term fixed rate loan at very competitive rates. The new loan is fully Ringgit-demoninated," says Johan Dennelind, the Chief Financial Officer of DiGi.According to Mr Dennelind, the new loan structure also increases DiGi's flexibility in optimizing its balance sheet. This pro-active exercise is part and parcel of a new stance adopted by DiGi to manage its capital structure efficiently.
About DiGi
DiGi is a leading mobile communications company providing a comprehensive range of affordable, convenient and easy to use wireless services to simplify and enrich the lives of its customers. We create value for our customers by selecting the most appropriate cutting edge technology so that they benefit from products and services that give them choice, convenience and control.
We have an established presence as a leader in voice and data prepaid services with a number of firsts that have set industry benchmarks for creativity and innovation. These services are offered under the Beyond Prepaid brand name. Our postpaid service under the Horizon Postpaid and Discover Business Solutions brand names deliver high quality voice as well as value-added mobile content and data services to both individual and corporate customers.