Tuesday, 10 April 2012

SC approves RM505 million bond by S P Setia

KUALA LUMPUR (April 10) : The Securities Commission has approved a proposed RM505 million bond scheme by Setia Ecohill Sdn Bhd, wholly-owned subsidiary of property developer S P Setia Bhd.

In a statement to the exchange on Tuesday, S P Setia said the scheme involves commercial papers and medium-term notes.

The firm initially announced the seven-year fund raising programme in March this year. According to the developer, the scheme will be guaranteed by the parent company, and is secured by its land in Semenyih, Selangor.

Proceeds from the exercise will finance the acquisition and development of the tract, S P Setia said.

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