KUALA LUMPUR: Serba Dinamik Holdings Bhd
's proposal to buy back US$100mil (RM430mil) using two long-term bank facilities has received positive response from S&P Global Ratings and Fitch Ratings.
S&P said on Friday Serba Dinamik's (B+/Stable/--) proposed bond buyback will reduce financing costs and diversify its capital sources.
“We expect the proposed transaction to generate interest savings of about RM10mil annually. The proposed transaction, if accepted by investors, will also diversify the funding sources of the Malaysian energy services firm.
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