OTHERS SUCCESSFUL ISSUANCE OF ISLAMIC MEDIUM TERM NOTES ("SUKUK") OF RM155.0 MILLION IN NOMINAL VALUE BY AXIS REIT SUKUK BERHAD
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement | |||||||||||||||||||||||||||||||||||
| Subject | OTHERS | |||||||||||||||||||||||||||||||||||
| Description | SUCCESSFUL ISSUANCE OF ISLAMIC MEDIUM TERM NOTES ("SUKUK") OF RM155.0 MILLION IN NOMINAL VALUE BY AXIS REIT SUKUK BERHAD | |||||||||||||||||||||||||||||||||||
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, had on 15 August 2013 successfully issued Sukuk of RM155.0 million in nominal value pursuant to the Sukuk programme of up to RM300.0 million in nominal value (“Second Sukuk Issue”). The Second Sukuk Issue consists of the following tranches:
The blended annual financing rate for the 5-year and 7-year Sukuk are 4.13% p.a. and 4.18% p.a., respectively. The proceeds from the Second Sukuk Issue will mainly be used to refinance the Fund’s existing financing facilities. With this Second Sukuk Issue, Axis-REIT has successfully increased its weighted average debt maturity to 4.2 years matching the Fund’s assets portfolio’s weighted average lease expiry of 4.34 years (by area). The details of the type of financing facilities and the summary of fixed and floating financing rates of the Fund are as presented in the attachment below. This announcement is dated 15 August 2013. | ||||||||||||||||||||||||||||||||||||
Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 15 Aug 2013 |
| Category | General Announcement |
| Reference No | CC-130815-95E10 |
