WCT Holdings to raise up to $460 mln via Islamic bonds

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KUALA LUMPUR (Sept 26): Malaysian construction firm WCT Holdings Bhd will raise up to 1.5 billion ringgit ($460.05 million) through Islamic bonds to refinance debt, pay working capital and capital expenses, according to a statement on Friday by rating agency Malaysian Rating Corp Bhd (MARC).

The company's 15-year sukuk murabaha programme was given a stable outlook by MARC to reflect the firm's diversified revenue sources and position within the local construction sector.

(1 US dollar = 3.2605 Malaysian ringgit)