Malaysia's Equine Capital plans RM95 million commercial paper, medium-term notes program

By Reshmi Basu

New York, Feb. 4 - Equine Capital Bhd. said it plans to sell up to RM95 million of commercial paper and medium-term notes in new programs.

The commercial paper will amount to up to RM70 million and the medium-term notes up to RM25 million. The MTNs will have maturities of up to five years.

Proceeds will be used to refinance existing bank borrowings, to develop properties in Taman Equine and Pusat Bandar Putra Permai and for working capital purposes.

The proposed issuance will be repaid with proceeds from the developments at Taman Equine and Pusat Bandar Putra Permai.

The Kuala Lumpur-based company is a real estate developer.

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