Business News

Axis REIT issues RM155mil sukuk

Thursday, 15 August 2013

KUALA LUMPUR: Axis REIT Sukuk Bhd had on Thursday successfully issued sukuk of RM155mil with a blended annual financing rate of 4.13% and 4.18% per annum for its five-year and seven-year sukuk.

In a Bursa filing, it said the RM155mil sukuk has a total of five tranches, with the first two being rated AAA.

The first tranche of RM70mil would be issued at seven-year tenure while the RM60mil would be issued at five-year tenure.

Axis said the proceed from the second sukuk issue would be used to refinance the fund’s existing financing facilities.

“With this second sukuk issue, Axis Real Estate Investment Trust has successfully increased its weighted average debt maturity to 4.2 years matching the fund’s assets portfolio’s weighted average lease expiry of 4.34 years (by area),” it said.

 

Tags: Banking

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