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Sime Darby grosses 2.20 billion ringgits from debt offering

Sime Darby raised gross proceeds of 2.20 billion ringgits from an offering of fix to floating rate subordinated notes due March 24, 2116.

The company plans to use the proceeds for general corporate purposes or working capital and redemption or repayment of debt securities.

Maybank Investment Bank Bhd. was the lead underwriter.

As of March 24, US$1 was equivalent to 4.03 ringgits.