May 11, 2012
Malaysia Airlines is close to securing up to MYR1.5 billion ringgit (USD$489.08 million) in a bridging loan from CIMB Group, according to a report in The Edge Financial Daily.
The loan would give the airline ample time to structure a MYR3 billion ringgit (USD$978.15 million) bond for its long-term needs, the newspaper said.
According to three separate sources, the one-year bridging loan is intended to finance the national carrier's daily operational needs. "This would give MAS some time to structure the bonds", said a business executive familiar with the matter.
