BAuto issues 4th tranche of ICPs worth RM100mil

KUALA LUMPUR: Bermaz Auto Bhd (BAuto) has issued a fourth tranche of Islamic 7-year commercial papers (ICPs) totalling RM100mil in nominal value with a tenure of six months from the date of issuance.

“The proceeds raised from the issuance of the ICPs may be utilised by the company, its subsidiaries and/or associated companies for Shariah-compliant purposes which include, among others, for refinancing existing financing/debt obligations (including any maturing Sukuk Wakalah) as well as for working capital and/or investments purposes,” it said in a Bursa filing.