Friday, December 16, 2011

Country Heights unit redeems 68.8m loan stocks, funded by Maybank loan

KUALA LUMPUR (Dec 16): COUNTRY HEIGHTS HOLDINGS BHD []'s (CHHB) unit East Vision Leisure Group Sdn Bhd (EVL) has redeemed all its 68.82 million loan stocks funded by a RM92.91 million term loan from MALAYAN BANKING BHD [].

CHHB said the loan stocks redeemed were the 68.82 million redeemable secured loan stocks 2004/2011 (RSLS Series B).

'The rationale for redemption is to enable EVL to restructure its loan requirements and to redeem the RSLS Series B which is due and payable on Dec 19, 2011,' it said.

EVL had also signed a term loan facility agreement with Maybank wherein the loan was secured''against the pledged assets comprising of the leasehold land and building known as Malaysia International Exhibition & Convention Centre, Mines Waterfront Business Park together with CHHB's corporate guarantee.

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