Definition of RC-i Facility


RC-i Facility means a revolving credit-i facility of up to Ringgit Malaysia Three Billion (RM3,000,000,000.00) only to be irrevocably and unconditionally guaranteed by the Government. For the avoidance of doubt, the Guaranteed Amounts shall not include Compensation (Ta'widh) (as defined below). (k) Details of Utilisation of Proceeds : The proceeds from the Sukuk Murabahah issued under the Sukuk Murabahah Programme shall be utilised by Prasarana for the following, which shall be Shariah compliant: First Issuance 1. To finance the construction costs and working capital requirements in connection with the Light Rail Transit Line 3 ("LRT 3") project; and 2. To refinance the existing borrowings/financing of Prasarana. Subsequent Issuances 1. To finance the construction costs and working capital requirements in connection with the LRT 3 project; and 2. To refinance the RC-i Facility undertaken by PRASARANA MALAYSIA BERHAD (COMPANY NO. 467220-U) PROPOSED ISSUANCE OF ISLAMIC MEDIUM TERM NOTES ("SUKUK MURABAHAH") PURSUANT TO AN ISLAMIC MEDIUM TERM NOTES ISSUANCE PROGRAMME OF RM10.0 BILLION IN NOMINAL VALUE TO BE IRREVOCABLY AND UNCONDITIONALLY GUARANTEED BY THE GOVERNMENT OF MALAYSIA ("SUKUK MURABAHAH PROGRAMME") Page 9 Prasarana in relation to the LRT 3 project. (l) Rating : The Sukuk Murabahah Programme and the Sukuk Murabahah issued under the Sukuk Murabahah Programme will not be rated. (m) Form and Denomination : The Sukuk Murabahah shall be issued in accordance with: (1) the Participation and Operation Rules for Payment and Securities Services issued by PayNet ("PayNet Rules"); and (2) the PayNet Procedures, or their replacement thereof (collectively the "PayNet Rules and Procedures") and/or such other rules and procedures issued by the relevant regulatory authorities as may be applicable from time to time. Each tranche of the Sukuk Murabahah shall be represented by a global certificate in bearer form to be deposited with BNM, and is exchanged for definitive bearer form only in certain limited circumstances. The denomination of the Sukuk Murabahah shall be RM1,000,000 and the Sukuk Murabahah shall be issued in multiples of RM1,000,000 at the time of issuance. (n) Status of the Sukuk Murabahah : The Sukuk Murabahah shall constitute direct, unconditional, unsecured and unsubordinated obligations of Prasarana and shall at all times rank pari passu, without discrimination, preference or priority amongst themselves and at least pari passu with all other present and future unsecured and unsubordinated obligations of Prasarana, subject to those preferred by law and the Transaction Documents (as defined below). (o) Status of the Guarantee : The liabilities of the Guarantor under the Guarantee shall rank at least equally and rateably pari passu with all its other unsecured liabilities, both actual and contingent (except liabilities which are subject to liens or rights of set-off wherein the aggregate amount of which is not material). (p) Mode of Issue : The Sukuk Murabahah may be issued through any of the following modes:
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