Telekom Malaysia secures $150m loan with low interest cost
AFP, Kuala Lumpur
Malaysia's largest telecommunications company, Telekom Malaysia Bhd. on Monday announced that it has signed a 2.5 year term loan facility of 150 million dollars. "The facility will be used to refinance its existing term loan the company undertook four years ago," Telekom Malaysia said in a statement. It said Telekom Malaysia was able to obtain the financing at far better terms than other similar companies in the region because of its strong credit standing. The loan was provided by three offshore banks -- The Bank of Tokyo-Mitsubishi Ltd., Labuan Branch; Mizuho Corporate Bank Ltd., Labuan Branch and National Australia Bank Ltd, Labuan Branch. Telekom Malaysia said the new loan would enable it to achieve significant cost savings.
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