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Wednesday, April 11, 2012

SP Setia unit gets SC nod for debt plan

KUALA LUMPUR: SP Setia Bhd’s wholly-owned unit, Setia Ecohill Sdn Bhd, has received approval from the Securities Commission on its proposed commercial papers/medium term notes (CP/MTN) programme.

The programme comprises the proposed issuance of RM505 million CPs and MTN. SP Setia initially announced the seven-year fund raising programme last month.

According to the developer, the scheme will be guaranteed by the parent company and is secured by its land in Semenyih, Selangor.

SP Setia said proceeds from the exercise will finance the acquisition and development of the land.

By Business Times

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