August 4, 2011 / 11:37 AM / 9 years ago

BRIEF-Malaysia's Hong Leong to issue up to 1.8 bln rgt in debt

KUALA LUMPUR, Aug 4 (Reuters) - Malaysia’s Hong Leong Financial Group said on Thursday:

* the Malaysian Securities Commission has approved a proposed master debt issuance programme of up to 1.8 billion ringgit ($605.7 million) in nominal value

* the debt programme comprises of commercial papers and medium term notes, which total shall not exceed 1.8 billion ringgit

* the commercial papers will have a tenure of seven years, and the medium term notes 20 years

* proceeds will be used to repay borrowings, general investments and working capital

* Hong Leong Investment Bank is principal adviser and lead arranger of the programme. ($1 = 2.972 Malaysian Ringgit) (Reporting by Min Hun Fong; Editing by Niluksi Koswanage)

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