Published on 13 Nov 2020.
RAM Ratings has withdrawn the respective AAA/Stable, AA3/Stable and AAA/Stable ratings of Lucida Capital Berhad’s (the Issuer) RM75 mil Senior Class A, RM13 mil Senior Class B and RM30 mil Stand-Alone Class C MTNs under the Issuer’s up to RM370 mil MTN Programme. The rating withdrawal follows the early redemption of the MTNs. Lucida Capital’s up to RM252 mil Subordinated Class D MTN is unrated.
Hong Leong Investment Bank Berhad (the Facility Agent) has confirmed that the Issuer fully redeemed the outstanding RM55 mil of rated MTNs on 13 November 2020, ahead of their maturity on 31 March 2021. The early redemption had been effected via a Property Call Option on 18 September 2020 by Quill Towers Sdn Bhd (Originator). As such, RAM no longer has any rating obligation on the MTNs.
Lucida Capital is a single-purpose entity incorporated to undertake property securitisation involving Quill 6 – a 24-storey purpose-built office building located on Leboh Ampang in Kuala Lumpur. The building is currently occupied by HSBC Bank Malaysia Berhad.
Lim Chern Yit
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