Ekovest To Sell $767M In Bonds For Malaysian Road Project

Law360, New York (December 2, 2013, 3:50 PM EST) -- A subsidiary of Malaysian building company Ekovest Bhd. plans to sell 2.48 million ringgit ($767 million) in bonds to help finance the construction of a 11.3-mile highway, the company announced in a stock exchange filing Monday.

Ekovest said in a filing with the Bursa Malaysia, the country's stock exchange, that 70 percent owned subsidiary Konsortium Lebuhraya Utara-Timur Sdn. Bhd., or Kesturi, has sold 2.3 billion ringgit in nominal value sukuk musharakah, or Islamic debt, and 180 million ringgit in nominal value junior bonds.

Selling the medium...
To view the full article, register now.