Malaysia's WCT launches RM 1 billion medium-term note program

By Marisa Wong

Madison, Wis., July 11 - WCT Bhd. announced it established a RM 1 billion medium-term note program with a tenor of 15 years. The program was approved by the Securities Commission of Malaysia on July 9.

RHB Investment Bank Bhd. is the principal adviser and lead arranger.

The program has a tenor of 15 years from the date of first issuance, provided that the first series of notes to be issued under the program is within two years of the approval date.

The notes will be issued via book-building, private placement or bought-deal basis.

Proceeds will be used to fund working capital requirements, capital expenditure and investments, as well as to refinance existing borrowings.

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

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