PETALING JAYA: Kimlun Corp Bhd
has issued Islamic commercial papers (ICP) with a nominal value of RM26.4mil under its existing Islamic commercial papers programme.
In a filing on April 28, the group said the issuance carries a tenure of six months and forms part of its ICP programme, which, together with its Islamic medium-term notes programme, has a combined limit of up to RM800mil.
The ICP programme is structured based on the syariah principle of murabahah via a tawarruq arrangement, in line with the terms lodged with the Securities Commission in October 2021.
Kimlun said proceeds from the issuance will be utilised for syariah-compliant general corporate purposes, including working capital, capital expenditure and refinancing of existing borrowings across the group.
OCBC Al-Amin Bank Bhd is acting as the lead manager for the issuance.
