Malaysia's Nam Cheong sets up S$200 million multicurrency MTN program

By Marisa Wong

Madison, Wis., Oct. 12 - Nam Cheong Ltd. announced that its wholly owned subsidiary, Nam Cheong Capital Pte. Ltd., established a S$200 million multicurrency medium-term note program.

DBS Bank Ltd. is the arranger and dealer.

Proceeds from notes issued under the program will be used for general corporate purposes, including refinancing existing borrowings and financing capital expenditure, investments and general working capital.

Nam Cheong is a Kuala Lumpur-based shipbuilder of offshore support vessels.

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