Malaysia's Lingui to launch domestic bond

Malaysian timber company Lingui Development will tap the debt market in April with a M$300 million offering.
March 19, 2001
Malaysia's Lingui Development Berhard, who's activities include timber, oil palm and cocoa plantations, has announced that it is to launch a M$300 million $78.9 million domestic bond in April following approval from the Securities Commission. Aseambankers has won the mandate to arrange the deal, with HSBC brought in as lead manager.

The company says proceeds from the transaction will go towards refinancing M$289 million of bank loans, with the remainder used to finance working capital. Lingui also says that it has opted to go domestic rather than international because it wants to avoid foreign currency exposure.

The transaction, rated A3 by Rating Agency Malaysia, will be split into two...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222