Country Heights' unit signs agreement for RM50 Million syndicated facilities
Jun 07, 2011
Country Heights Holdings Bhd's unit Tindak Murni Sdn Bhd has signed an agreement for RM50 million in syndicated facilities with DBS Bank Ltd, Labuan (provider of Stand By Letter of Credit (SBLC)) and HwangDBS Investment Bank Bhd.
The syndicated facilities will comprise a term loan facility of up to RM25 million from HwangDBS and a standby letter of credit facility (SBLC) of up to US dollar equivalent to RM25 million from DBS to be issued in favour of Public Bank Bhd as security for RM25 million term loan facility, the company said in a filing to Bursa Malaysia.
Tindak Murni also signed Facilities Agreement with Public Bank for the granting of a term loan of RM25 million (SBLC backed term loan facility) secured by the SBLC from DBS.
Country Heights said the proceeds from the term loan facility and SBLC backed term loan facility will be utilised by its unit to acquire land, property development works and general working capital for future project. - Bernama
aCountry Heights Holdings Bhd's unit Tindak Murni Sdn Bhd has signed an agreement for RM50 million in syndicated facilities with DBS Bank Ltd, Labuan (provider of Stand By Letter of Credit (SBLC)) and HwangDBS Investment Bank Bhd.
The syndicated facilities will comprise a term loan facility of up to RM25 million from HwangDBS and a standby letter of credit facility (SBLC) of up to US dollar equivalent to RM25 million from DBS to be issued in favour of Public Bank Bhd as security for RM25 million term loan facility, the company said in a filing to Bursa Malaysia.
Tindak Murni also signed Facilities Agreement with Public Bank for the granting of a term loan of RM25 million (SBLC backed term loan facility) secured by the SBLC from DBS.
Country Heights said the proceeds from the term loan facility and SBLC backed term loan facility will be utilised by its unit to acquire land, property development works and general working capital for future project. - Bernama
