By Marisa Wong
Madison, Wis., July 16 - Axis Real Estate Investment Trust announced the issuance of RM 110 million of 10-year Islamic medium-term notes through its wholly owned subsidiary, Axis REIT Sukuk Bhd.
The notes were issued under the trust's previously announced RM 300 million Islamic medium-term note program.
The sukuk, issued in four tranches, received long-term ratings of AAA, AA1, AA2 and AA3, respectively, by RAM Rating Services Bhd.
Proceeds will be used primarily to refinance the Petaling Jaya, Selangor, Malaysia-based trust's existing financing facilities.
| Issuer: | Axis REIT Sukuk Bhd.
|
| Issue: | Islamic medium-term notes
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| Amount: | RM 110 million
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| Maturity: | 10 years
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| Ratings: | RAM Rating Services: AAA, AA1, AA2 and AA3
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| Announcement date: | July 16
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