SDP also refinanced RM800mil working capital facilities with new term loans, which have longer maturities. SDP announced that the new facilities offer slightly lower interest rates than its previous facilities, though specific details were not disclosed.
KUALA LUMPUR: Sime Darby Plantation Bhd
’s (SDP) large debt refinancing is credit positive as the move will improve the company’s liquidity and extend its debt maturities, Moody’s Investors Service said.
The rating agency said on Jan 30, SDP (Baa1 negative) announced that it had refinanced around RM3.9bil of credit facilities in December 2019, or around 49% of its total reported debt.
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