Malaysia's Adventa gets OK for up to RM 150 million sukuk program

By Marisa Wong

Madison, Wis., May 26 - Adventa Bhd. received approval from the Malaysia Securities Commission to issue up RM 150 million of Islamic commercial paper or medium-term notes under a seven-year Islamic paper and Islamic MTN program, according to an announcement by Maybank Investment Bank Bhd.

Maybank will be the adviser, lead arranger and lead manager for the proposed program, which will be guaranteed by Maybank Islamic Bhd.

Proceeds will be used to finance working capital requirements, investments or capital expenditure and to refinance borrowings.

The proposed program has been assigned a short-term rating of P1 and a long-term rating of AAA by RAM Rating Services Bhd.

Based in Kota Bharu, Malaysia, Adventa manufactures and distributes medical products and devices.

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