Malaysia's Zecon to sell RM 60 billion bonds

By Jennifer Chiou

New York, May 3 - Zecon Toll Concessionaire Sdn Bhd. said it received approval from Malaysia's Securities Commission on its proposal to issue RM 60 billion of Islamic bonds.

Proceeds from the sale will be used to refinance Zecon's borrowings, prefund its finance service reserve account and for working capital. The bonds will be structured based on the Islamic principal of Bai-Bithaman Ajil.

The issuer is a wholly owned subsidiary of Kuala Lumpur-based Zecon Engineering Bhd.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.