OTHERS SUCCESSFUL ISSUANCE OF ISLAMIC MEDIUM TERM NOTES ("SUKUK") of RM240.0 MILLION IN NOMINAL VALUE BY AXIS REIT SUKUK BERHAD
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement | ||||||||
| Subject | OTHERS |
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| Description | SUCCESSFUL ISSUANCE OF ISLAMIC MEDIUM TERM NOTES ("SUKUK") of RM240.0 MILLION IN NOMINAL VALUE BY AXIS REIT SUKUK BERHAD |
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The Board of Directors of Axis REIT Managers Berhad, the management company (“Manager”) of Axis Real Estate Investment Trust (“Axis-REIT” or “the Fund”), wishes to announce that Axis REIT Sukuk Berhad, a wholly-owned subsidiary of Axis-REIT, has on 7 January 2019 successfully issued Sukuk of RM240.0 million in nominal value pursuant to the Sukuk programme of up to RM3.0 billion in nominal value (“Third Sukuk Issue”).
Details of the Third Sukuk Issue are as follows:
The proceeds from the Third Sukuk Issue will mainly be used to refinance the Fund’s existing financing facilities. With this Third Sukuk Issue, the weighted average debt maturity of Axis-REIT improves from 1.72 years (as at 30 September 2018) to 3.09 years. The Fund has successfully reduced its exposure to short term financing from 76% to 53 %. The effective profit rate of Axis-REIT’s portfolio of financing is 4.45% p.a. following the completion of the Third Sukuk Issue.
This announcement is dated 7 January 2019. |
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Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 07 Jan 2019 |
| Category | General Announcement for PLC |
| Reference Number | GA1-07012019-00070 |
