Singapore's Bumitama to raise $602 mln through Islamic bonds

KUALA LUMPUR Tue Jan 21, 2014 6:47am EST

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KUALA LUMPUR Jan 21 (Reuters) - Singapore-listed palm oil producer Bumitama Agri will raise up to 2 billion Malaysian ringgit ($602.9 million) through Islamic bond issues in Malaysia, it said on Tuesday.

Proceeds will go towards capital expenditure, investments and debt refinancing, Bumitama Agri said. The bonds will have maturities between one and 15 years.

Maybank Investment Bank Bhd and United Overseas Bank (Malaysia) Bhd are advisers on the issues. ($1 = 3.3175 Malaysian ringgit) (Reporting By Al-Zaquan Amer Hamzah; Editing by David Goodman)

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