Malaysia's YTL Power to issue up to RM 1 billion in debt securities

By Reshmi Basu

New York, Jan. 16 - YTL Power International Bhd. said it received approval from the Malaysian Securities Commission of its proposal to sell up to RM 1 billion in securities under its commercial paper and medium-term note program.

The program has a maturity of seven years from the date of issuance.

YTL will use the proceeds to refinance borrowings, to finance capital expenditures and for working capital requirements.

CIMB Investment Bank Bhd. will manage the program.

YTL is power company based in Kuala Lumpur, Malaysia.

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