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Malaysian Merchant Marine retires some 5.85% Al-Bai Bithaman Ajil Islamic serial bonds
By Devika Patel
Knoxville, Tenn., May 21 - Malaysian Merchant Marine Bhd. said it redeemed RM 26 million of its 5.85% Al-Bai Bithaman Ajil Islamic serial bonds due Nov. 29, 2010 on Wednesday.
The bonds were issued under the company's RM 120 million Al-Bai Bithaman Ajil serial bonds facility.
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 is a Malaysia-based investment holding company.
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