Malaysia's WCT intends to sell RM 600 million of fixed-rate bonds

By Devika Patel

Knoxville, Tenn., July 28 - WCT Bhd. said it will sell RM 600 million in discounted serial fixed-rate bonds on a bought-deal basis.

Of the bonds, RM 300 million will mature in three years, with the remainder maturing in five years. The coupon will be determined at a later date. The bonds will be sold in denominations of RM 1 million.

Investors also will receive 181,085,174 warrants. The strike price will be determined.

Proceeds will be used to repay debt and for working capital and general funding requirements.

The issuer is an engineering services company based in Shah Alam, Malaysia.

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