Published on 21 September 2012
RAM Ratings has received confirmation that Mid Valley
Capital Sdn Bhd (“MVCap”) redeemed the RM200 million outstanding balance on its
Class 1 Series C to F Redeemable Secured Bonds (2004/2017) (“the Bonds”) on 20
September 2012, ahead of its scheduled expected maturity date of 15 September
2016. The early redemption follows the proposal to inject Mid Valley Megamall –
the underlying collateral for the Bonds – into IGB Real Estate Investment Trust
(“IGB REIT”). The initial public offering for IGB REIT is scheduled to take
place on 21 September 2012.
Following the redemption, RAM Ratings has withdrawn the AAA
rating of MVCap and no longer has any rating obligation on the Bonds.
Media contact
Ang Jae Han
(603) 7628 1020
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