Top Glove inks US$310 million syndicated credit facilities to fund Aspion acquisition

by RAHIMI YUNUS / pic by MUHD AMIN NAHARUL

Top Glove Corp Bhd signed an unsecured syndicated credit facilities agreement for US$310 million (RM1.2 billion) with a consortium of eight banks to fund its Aspion Sdn Bhd acquisition.

The syndication was led by Citibank Bhd as the sole coordinator, mandated lead arranger and bookrunner with seven lenders that include Bank of Tokyo-Mitsubishi UFJ (Malaysia) Bhd, Hong Leong Bank, Mizuho Bank (Malaysia) Bhd, Sumitomo Mitsui Banking Corp Malaysia Bhd, BNP Paribas, Bangkok Bank Bhd and Bank of China.

The credit facilities comprises US$155 million two-year term loan facility and US$155 million five-year murabaha facility.

Top Glove expects complete the Aspion purchase by the first week of April this year and the company combined entity will become the world’s largest surgical glove maker.