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SEP Resources fully redeems its Islamic MTNs
Published on 30 Sep 2024.
RAM Ratings has received confirmation that SEP Resources (M) Sdn Bhd (SEP) has fully redeemed its outstanding RM150 mil Islamic Medium-Term Notes (the Islamic MTNs) on 26 September 2024 ahead its scheduled maturity date. The redemption was made through the successful issuance of its RM185 mil ASEAN Sustainability SRI Sukuk Wakalah (SRI Sukuk), which carries a AA1/Stable rating (click here for details on the SRI Sukuk, published on 11 September 2024).
As such, we have withdrawn the AAA/stable rating of the Islamic MTN and no longer have any rating obligation in respect of the redeemed sukuk (last affirmed on 7 August 2023). We will continue to provide coverage for SEP Resources’ SRI Sukuk.
Analytical contacts
Zachary Tan
(603) 3385 2612
zachary@ram.com.my
Davinder Kaur Gill
(603) 3385 2525
davinder@ram.com.my
Media Contact
Sakinah Arifin
(603) 3385 2500
sakinah@ram.com.my
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