Malaysia’s Digistar plans RM 80 million of fixed-rate serial bonds

By Marisa Wong

Morgantown, W.Va., Dec. 20 – Digistar Corp. Bhd. said its wholly owned subsidiary, Jaya Persada Sdn. Bhd., plans to issue up to RM 80 million of fixed-rate serial bonds.

The bonds will have a tenor of up to 14 years over three tranches.

MIDF Amanah Investment Bank Bhd. will be the lead arranger for the proposed issuance.

Proceeds will be used to refinance existing bank loans, to expand and refurbish the Imperial Heritage Hotel, for expansion of other projects and for working capital.

Digistar is a security and communication systems company based in Ampang, Selangor, Malaysia.

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