ADVERTISEMENT

Top Glove to save RM16m in interest a year from new bonds


“This will result in substantial potential cashflow savings of approximately RM16mil per annum for the group, which will help to improve the group’s cashflow position,” it said. This would translate to RM80mil in savings over five years.

“This will result in substantial potential cashflow savings of approximately RM16mil per annum for the group, which will help to improve the group’s cashflow position,” it said. This would translate to RM80mil in savings over five years.

KUALA LUMPUR: Top Glove Corporation Bhd , which issued US$200mil (about RM814.10mil) in exchangeable bonds, expects to save RM16mil in interest per year.

The world's largest glove maker said on Monday the bonds were priced at 2% per annum coupon for a fixed five-year period. The 2% coupon was half the existing interest cost of about 4% per annum of the loans it intended to repay. 

Corporate News

   

ADVERTISEMENT