AXIS Real Estate Investment Trust (Axis-REIT), through its wholly owned subsidiary Axis REIT Sukuk Two Bhd, has established an Islamic notes issuance programme of up to RM3 billion in nominal value, allowing for the issuance of senior Islamic medium term notes and subordinated perpetual Islamic notes based on the Shariah principle of Wakalah bi al-Istithmar.
The Sukuk Programme, lodged with the Securities Commission Malaysia today, will provide Axis-REIT with financial flexibility to support capital expenditure, working capital, refinancing of borrowings, and general corporate purposes.
Axis REIT Managers Bhd said the programme also allows for the issuance of sustainability sukuk and sustainability-linked sukuk, aligning with evolving ESG financing trends.
RAM Rating Services Bhd has assigned long-term ratings of AA2(s)/Stable to the senior sukuk and A1(s)/Stable to the perpetual sukuk.
The issuance may include both rated and unrated notes, depending on market needs.
The REIT Trustee, RHB Trustees Bhd (on behalf of Axis-REIT unitholders), is the obligor under the programme. — TMR
RELATED ARTICLES
Corporate results: Axis REIT, Sunway REIT, F&N and Velesto
Corporate results: Gas Malaysia, Perdana Petroleum, HSS Engineers, Axis REIT, Prostasco, MTAG and Former CJ
Axis REIT net income jumps to RM99m in 4Q21
Axis REIT to acquire properties in PTP for RM65m
Axis REIT net income falls 36.2% to RM23.3m
Axis REIT gearing ratio manageable; to begin RM180m acquisitions
The post Axis REIT sets up RM3b Islamic sukuk programme for growth, refinancing appeared first on The Malaysian Reserve.
