The Kuala Lumpur-listed shipowner has yet to confirm thedeal but president and CEO Datuk Nasarudin Md Idris said in June that thecompany was sounding out banks for a loan.

MISC plans to use the funds to refinance a $1bn five-yearloan it took out in 2008 that expired last month.

Standard & Poors (S&P) assigned a BBB long-termissue rating on the unsecured term facility which it says is supported by MISC’sstrong links with Petronas.

The