KUALA LUMPUR, June 30, 2015:
West Coast Expressway Sdn Bhd (WCE) today signed a government support loan facility agreement of up to RM2.24 billion plus facilities with Malaysian banks for up to RM2.5 billion.
The latter portion saw WCE sign with RHB Investment Bank Bhd, RHB Bank Bhd and Malayan Banking Bhd for a syndicated term loan facility of up to RM1.5 billion.
WCE is also inked a guaranteed sukuk murabahah programme agreement with Bank Pembangunan Malaysia Bhd and RHB Investment Bank for an Islamic medium term notes programme of up to RM1 billion – to be guaranteed by Bank Pembangunan and Danajamin Nasional Bhd, pursuant to a kafalah facility
The RM4.74 billion facility signed by the 80% subsidiary of Kumpulan Europlus Bhd (KEuro) constitute part of the funding requirement for the construction of approximately RM5.9 billion highway project that will link Taiping in Perak to Banting in Selangor.
The remainder of the funding will come from the highway firm’s shareholders, including Road Builder (M) Holdings Bhd, said KEuro in a Bursa filing today.