Axis REIT Sukuk’s Second Sukuk to be fully redeemed on expected maturity date

Published on 12 Aug 2020.

Share Tweet Email

Axis REIT Sukuk Berhad (ARSB or the Issuer) expects to fully redeem the outstanding RM70 mil Class A1 Sukuk under its Second Sukuk Issue on the expected maturity date of 14 August 2020 through refinancing. Upon full redemption, RAM Ratings will withdraw the AAA/Stable rating of the Class A1 Sukuk and will no longer have any rating obligation in respect of the Second Sukuk Issue. The Second Sukuk is secured against four Axis REIT-sponsored office buildings – Menara Axis, Crystal Plaza, Axis Business Park and Quattro West (collectively, the Properties).

ARSB is a special-purpose vehicle set up by Axis Real Estate Investment Trust as a funding conduit for its Perpetual Islamic MTN Programme of up to RM3 bil. The Second Sukuk was issued via a commercial real estate-backed transaction involving the Properties.


Analytical contact
Teoh Tze Yit
(603) 3385 2531

Media contact
Padthma Subbiah
(603) 3385 2577


The credit rating is not a recommendation to purchase, sell or hold a security, inasmuch as it does not comment on the security’s market price or its suitability for a particular investor, nor does it involve any audit by RAM Ratings. The credit rating also does not reflect the legality and enforceability of financial obligations.

RAM Ratings receives compensation for its rating services, normally paid by the issuers of such securities or the rated entity, and sometimes third parties participating in marketing the securities, insurers, guarantors, other obligors, underwriters, etc. The receipt of this compensation has no influence on RAM Ratings’ credit opinions or other analytical processes. In all instances, RAM Ratings is committed to preserving the objectivity, integrity and independence of its ratings. Rating fees are communicated to clients prior to the issuance of rating opinions. While RAM Ratings reserves the right to disseminate the ratings, it receives no payment for doing so, except for subscriptions to its publications.

Similarly, the disclaimers above also apply to RAM Ratings’ credit-related analyses and commentaries, where relevant.

Published by RAM Rating Services Berhad
© Copyright 2020 by RAM Rating Services Berhad

Ratings on Axis REIT Sukuk Berhad (Second Sukuk)