OTHERS SUCCESSFUL ISSUANCE OF RM110.0 MILLION IN NOMINAL VALUE, 10-YEAR ISLAMIC MEDIUM TERM NOTES (“SUKUK”) PURSUANT TO A SUKUK PROGRAMME
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | OTHERS |
| Description | SUCCESSFUL ISSUANCE OF RM110.0 MILLION IN NOMINAL VALUE, 10-YEAR ISLAMIC MEDIUM TERM NOTES (“SUKUK”) PURSUANT TO A SUKUK PROGRAMME |
Further to the announcements dated 1 March 2012 and 20 June 2012, the Board of Directors of Axis REIT Managers Berhad, the management company (“Manager”) of Axis Real Estate Investment Trust (“Axis-REIT” or “the Fund”) is pleased to announce that the Fund has successfully issued RM110.0 million in nominal value Sukuk via its wholly-owned subsidiary, Axis REIT Sukuk Berhad; a company incorporated by Axis-REIT to facilitate the establishment of up to RM300.0 million in nominal value Sukuk programme. The Sukuk, which comprise of four tranches have obtained long-term ratings of AAA, AA1, AA2 and AA3 respectively by RAM Rating Services Berhad. The proceeds from the Sukuk will mainly be used to refinance the Fund’s existing financing facilities. With this Sukuk issuance, Axis-REIT has successfully increased its exposure to long term financing to 60%. Details of the current debt maturity profile of the Fund are as per the attachment herein. This announcement is dated 16 July 2012. | |
Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 16 Jul 2012 |
| Category | General Announcement |
| Reference No | CC-120716-A9A0E |
