KUALA LUMPUR, April 16 — Convenience store chain operator 7-Eleven Malaysia Holdings Bhd has proposed to establish a medium-term note (MTN) programme of RM600 million in nominal value.

In a filing with Bursa Malaysia today, it said the first issue of MTN under the MTN programme is expected to be issued by the second quarter of 2021.

"The MTN programme would have a tenure of 15 years from the date of first issuance under the programme,” it said.

The company said proceeds from the issuance would be utilised by 7-Eleven and its subsidiaries to refinance any existing borrowings, capital expenditures, investments, working capital requirements, general corporate purposes and defray expenses in setting up the programme. — Bernama