MALAKOFF SECURED TERM LOAN OF USD 80 MILLION

• Malakoff Corp Bhd has secured a term loan facility of US$80.0 mln (about RM325.0 mln) to repay all outstanding amounts under an existing term loan facility obtained to finance the acquisition of a 40.0% equity stake in Hidd Power Co. BSC in 2012.

• The new three-year loan facility was procured from Mizuho Bank Ltd via Malakoff’s 100.0%-owned subsidiary, Malakoff International Ltd (MIL) and will be secured by a corporate guarantee of US$80.0 mln in favour of Mizuho by Malakoff, as well as a charge over all the shares of a wholly-owned MIL subsidiary, in addition to an assignment of debt service account maintained by MIL, with Mizuho as the security trustee.