Published on 05 September 2012
RAM Ratings has received confirmation from Facility Agent
Maybank Investment Bank Berhad that Tanjung Bin Power Sdn Bhd (“Tanjung Bin
Power”) has made an early redemption on the outstanding amount under its RM5.57
billion Istisna’ Medium-Term Notes Programme (2003/2018) (“IMTN”). The IMTN had
been redeemed via proceeds from the issuance of Tanjung Bin Power’s Sukuk
Ijarah Programme of up to RM4.5 billion in nominal value (2012/2029). Given the
early redemption, RAM Ratings no longer has any rating obligation on the IMTN,
and the AA3 rating is no longer applicable.
Media contact
Michael Ti
(603) 7628 1015
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