Malaysian Merchant Marine retires some 5.3% serial bonds

By Susanna Moon

Chicago, June 1 - Malaysian Merchant Marine Bhd. redeemed on June 1 RM 30 million of its 5.3% bonds due November 2008, according to a press release.

The bonds were issued under the company's RM 120 million Al-Bai Bithaman Ajil serial bonds facility.

The MIDF Amanah Investment Bank Bhd. is the facility agent for the bonds.

The company retired the bond to enhance its debt-to-equity ratio and future earnings.

Malaysian Merchant Marine Berhad is a Malaysia-based investment holding company.

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