Malaysia DRB-Hicom to sell 1 bln rgt Islamic debt

Newswire

KUALA LUMPUR, June 24 (Reuters) - Malaysian state-linked firm DRB-Hicom Bhd said on Friday it would sell up to 1.0 billion ringgit, or $263 million, of Islamic debt securities to redeem its loan stocks and raise working capital. DRB-Hicom, which has interests ranging from auto distribution to property and infrastructure, told the stock exchange it would issue up to 680 million ringgit of Islamic bonds and 320 million ringgit of Islamic commercial papers. The firm has appointed AmMerchant ...

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