Malaysia's Setia EcoHill plans up to RM 505 million of CP, MTNs

By Marisa Wong

Madison, Wis., March 5 - S P Setia Bhd. said its wholly owned subsidiary, Setia EcoHill Sdn. Bhd., has proposed an up to RM 505 million commercial paper/medium-term note program.

The subsidiary plans to issue up to RM 305 million of medium-term notes in one tranche and up to RM 200 million of commercial paper and/or medium-term notes in a second tranche.

The notes will have a maturity of seven years.

The securities will be guaranteed by the parent company.

Proceeds will be used to finance the purchase of land located in Rinching, Semenyih, Selangor, to repay bank borrowings and for working capital requirements.

The commercial paper/MTN program is subject to the approval of the Malaysia Securities Commission.

S P Setia is a property development company based in Shah Alam, Malaysia.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.