E&O deputy managing director, Eric Chan Kok Leong, says the company is closer to realising its proposal to raise close to RM500mil in funds on a fixed funding cost for a period of five years, enabling it to reduce exposure to interest rate fluctuations.
KUALA LUMPUR: Property developer Eastern & Oriental Bhd
has been given the green light by the Securities Commission (SC) to issue up to RM500mil in nominal value of private debt securities (PDS).
The letter of approval, received on Oct 31, and follows E&O’s announcement to Bursa Malaysia on Sept 5, 2014 that it had proposed a PDS issue of 20-year medium-term notes programme and/or seven-year commercial papers programme.
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