Malaysia: Top Glove sets up M$3bn perpetual sukuk programme

Top Glove, the world’s largest manufacturer of medical rubber gloves, is to set up a M$3bn (US$739m) perpetual sukuk programme to raise proceeds for refinancing and working capital. The sukuk is guided under the Shariah principle of Wakalah Bi-Al Istithmar. “The perpetual sukuk programme provides [Top Glove] with the flexibility to issue unsecured and subordinated…

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