Malaysia's Hong Leong Financial plans up to RM 1.8 billion of debt

By Marisa Wong

Madison, Wis., Aug. 4 - Hong Leong Financial Group Bhd. announced that the Malaysia Securities Commission approved the planned issuance of up to RM 1.8 billion of debt.

The debt program comprises up to RM 1.8 billion of medium-term notes and up to RM 1.8 billion of commercial paper. The total balance of the notes and paper will not exceed RM 1.8 billion.

Hong Leong Investment Bank Bhd. is the principal adviser and lead arranger of the debt program.

The MTN program will have a tenor of 20 years, and the commercial paper program will have a tenor of seven years.

Proceeds will be used to repay borrowings, for general investments and for working capital purposes.

Hong Leong Financial is part of the banking and financial services arm of Kuala Lumpur-based Hong Leong Group. The group specializes in banking and financial services, manufacturing and distribution, property development and investments, hospitality and leisure and principal investment.

© 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.