Press Metal gets nod to issue up to US$400m Regulation S US denominated senior notes
13 Oct 2017 / 20:17 H.
PETALING JAYA: Press Metal Aluminium Holdings Bhd's subsidiary Press Metal Labuan Ltd has been given the nod by Bank Negara Malaysia for a proposed issuance of Regulation S USD denominated senior notes of up to US$400million.
The group said in a Bursa Malaysia filing, it had received the approval of the central bank on Oct 13, for the notes which have a tenure of five years.
The net proceeds from the issuance will be used for refinancing of existing indebtedness and general corporate purposes.
Press Metal's shares rose 1.57% to close at RM3.89, with some 10 million shares traded.