Malaysia’s Press Metal Aluminium plans $400 million five-year notes

By Marisa Wong

Morgantown, W.Va., Oct. 13 – Press Metal Aluminium Holdings Bhd. plans to issue up to $400 million of five-year senior notes.

Bank Negara Malaysia approved the proposed issuance on Friday, according to a Bursa Malaysia announcement.

The notes will be issued through wholly owned subsidiary Press Metal Labuan Ltd.

Proceeds from the Regulation S offering will be used to refinance existing debt and for general corporate purposes.

Press Metal manufactures and markets aluminum products. The company is based in Shah Alam, Malaysia.

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