Malaysia's UMW to sell $654 million in Islamic bonds

Newswire

KUALA LUMPUR, Dec 21 (Reuters) - Malaysian industrial-to-automotive company UMW Holdings Bhd will sell up to 2 billion ringgit ($654.56 million) in Islamic bonds to cut debt and fund working capital, the company said in a filing to the stock exchange on Friday. The company added it has received approval from Malaysia's Securities Commission for the 15-year bond program. Maybank Investment Bank Bhd and Standard Chartered Saadiq Bhd are advising UMW on the ...

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