Al-Aqar Capital fully redeems RM300m Sukuk programme

KUALA LUMPUR, Feb 26 – Malaysia’s RAM Ratings has received confirmation from the facility agent that Al-‘Aqar Capital Sdn Bhd (Al-‘Aqar Capital) fully redeemed all the outstanding Class A Islamic Medium-Term Notes (IMTN), Class B IMTN, Class C IMTN and Islamic Commercial Papers (ICP) under its RM300 million Sukuk Ijarah Programme (2008/2013).

Following the above, RAM has withdrawn the respective AAA, AA2, AAA(bg) and P1 ratings of Al-‘Aqar Capital’s Class A IMTN, Class B IMTN, Class C IMTN and ICP, and no longer has any rating obligation on the debt facility.

Al-‘Aqar Capital is a special-purpose vehicle incorporated solely for the acquisition of 11 hospitals leased to Al-‘Aqar Healthcare Real Estate Investment Trust and operated by KPJ Healthcare Berhad, Malaysia’s largest private healthcare group. – Reuters