Malaysia’s WCT gets nod to issue $315m bonds

13-Jul-2012 Intellasia | Reuters | 7:01 AM

Malaysian builder WCT Bhd obtained regulatory approval for its proposed issuance of up to 1 billion ringgit ($314.8 million) worth of bonds to fund operations.

WCT said on Wednesday that the fund raising, which comes in the form of a 15-year medium term note programme, will be sold through book-building, private placement or a bought-deal basis.

Proceeds will be used to fund its working capital needs, capital expenditure, investments and refinancing of its existing borrowings, the company said in a local stock exchange filing.

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

http://in.reuters.com/article/2012/07/11/malaysia-wct-bonds-idINL3E8IB2RO20120711