Malaysia's Rashid Hussain pulls offer of up to $190 million three-year exchangeables

By Jennifer Chiou

New York, Aug. 28 - Malaysia's Rashid Hussain Bhd. announced its board elected to terminate plans to price up to $190 million of three-year credit-enhanced exchangeable bonds.

The company originally announced plans for the offer on Dec. 16, 2005.

ABN AMRO Rothschild was to be the bookrunner for the proposed deal, and AmMerchant Bank the domestic adviser.

The bonds would have been exchangeable into existing ordinary shares of RHB Capital Bhd.

Proceeds of the offering would have been used for debt refinancing, debt servicing of the RHB Group, working capital purposes as well as to defray the costs of the bond issue.

Based in Kuala Lumpur, Malaysia, Rashid Hussain is a financial services company.

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