KUALA LUMPUR: Tan Chong Motor Holdings Bhd (TCMH) has received Securities Commission approval for its RM1.5 billion commercial paper (CP) and medium term note (MTN) programmes. It told Bursa Malaysia yesterday that the CP and MTN programmes would have tenures of up to seven years and 20 years, respectively, from the date of their first issuance. The proceeds from the issuance would be used for TCMH and its subsidiaries’ capital expenditures, refinancing bank borrowings and CPs and/or MTNs, as well as for working capital, it added.
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