Malaysia's Top Glove plans to issue RM 100 million of Islamic paper

By Reshmi Basu

New York, Aug. 1 - Top Glove Corp. Bhd. plans to issue up to RM 100 million of Islamic paper under the company's proposed Murabahah amd Ijarah medium-term note program.

Proceeds will be used to help refinance the company's debt, for capital expenditures and for capital working.

The company said the program allows it to tap the private debt securities market for additional funds whenever it needs to.

Commerce International Merchant Bankers Bhd. has been mandated as the lead manager and adviser for the program.

The program is subject to the approval of the Malaysian Securities Commission.

Top Glove, based in Selangor, Malaysia, is a global provider of rubber gloves.

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