Issuance of bonds and warrants. WCT has proposed the issuance of RM600m nominal value of 5-year serial fixed rate bonds and 181.1m new warrants of which 121.1m will be offered to existing WCT shareholders on a 1-for-8 basis and 60m to senior management of WCT at an issue price to be determined later. Of the RM600m proceeds from the bond issue, RM350m will be used to refinance existing borrowings (to take advantage of the lower interest cost), RM247.3m for working capital and RM2.7m for expenses relating to the exercise.
WCT Berhad : Proposes RM600m Bonds, 1-For-8 Warrant Issue - 29/7/2010
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