Published on 13 Nov 2020.
RAM Ratings has withdrawn the respective ratings of Purple Boulevard Berhad’s (the Issuer) RM250 mil Senior Class A, Class B and Class C Sukuk Ijarah (collectively, the Senior Sukuk) as well as its Guaranteed Class D Sukuk Ijarah (as tabulated below). Hong Leong Investment Bank Berhad (the Facility Agent) has confirmed that the Issuer has fully redeemed the Senior Sukuk and the Guaranteed Class D Sukuk.
Amount of up to
Senior Class A
11 November 2022
10 May 2024
Senior Class B
13 November 2020
13 May 2022
Senior Class C
Guaranteed Class D
11 November 2022*
*Known as the Class D Mandatory Prepayment Date
The redemption was effected on 13 November, after the Originators - Nadin Holdings Sdn Bhd and Nadin Management Sdn Bhd – had exercised the Property Sale Undertaking. Specifically, the Senior Class A Sukuk and the Guaranteed Class D Sukuk have been redeemed well ahead of their expected maturity date of 11 November 2022. As such, RAM no longer has any rating obligation on the Senior Sukuk and Class D Sukuk Ijarah.
Purple Boulevard is a single-purpose funding vehicle that had been incorporated to undertake property securitisation involving Ampang Point Shopping Centre – a suburban neighbourhood retail mall located on Jalan Ampang in Kuala Lumpur.
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Ratings on Purple Boulevard Berhad