EVERSENDAI SE­CURES US$120M LOAN FA­CIL­ITY

The Sun (Malaysia) - - SUNBIZ -

PETAL­ING JAYA: Eversendai Corp Bhd has ac­cepted a five-year syn­di­cated term loan fa­cil­ity of US$120 mil­lion (RM502 mil­lion) from Na­tional Bank of Abu Dhabi PJSC (Labuan Branch), Ex­portIm­port Bank of Malaysia Bhd and Com­mer­cial Bank In­ter­na­tional PSC. It told Bursa Malaysia that the fa­cil­ity will be used to re­pur­chase its out­stand­ing Sukuk Musharakah of RM250 mil­lion and for work­ing cap­i­tal re­quire­ments. Eversendai noted that the fa­cil­ity would re­sult in the com­pany in­cur­ring in­ter­est ex­pense. Nev­er­the­less, the fa­cil­ity would be utilised to fund in­come gen­er­at­ing ac­tiv­i­ties, which are ex­pected to con­trib­ute pos­i­tively to the com­pany’s earn­ings.

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