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

Published on 12 Aug 2020.

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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
tyteoh@ram.com.my

Media contact
Padthma Subbiah
(603) 3385 2577
padthma@ram.com.my

 

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



Ratings on Axis REIT Sukuk Berhad (Second Sukuk)

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