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Wednesday August 29, 2012
CCM in currency swap deal
KUALA LUMPUR: Chemical Company of Malaysia Bhd (CCM) announced it has entered into an agreement to execute the drawdown with Bank of Tokyo-Mitsubishi UFJ, Ltd for a cross-currency swap amounting to RM100mil equivalent in US dollar.
The facility was part of the group's financing plan to restructure its current borrowings tenure from short-term to mid-term, CCM said in a filing with Bursa Malaysia.
Proceeds from the facility, which has a two-year tenure expiring on Dec 29, 2014, will be used to refinance the cross-currency swap maturity. - Bernama
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