Kimlun Corp Bhd has issued Islamic commercial papers (ICP) with a nominal value of RM26.4 million under its existing ICP programme. 
In a filing on April 28, the group said the issuance has a tenure of six months and forms part of its ICP programme, which, together with its Islamic medium-term notes programme, carries a combined limit of up to RM800 million.
The programme is structured under the Shariah principle of murabahah via a tawarruq arrangement, in line with terms lodged with the Securities Commission in October 2021.
Kimlun said proceeds from the issuance will be used for Shariah-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.
