Published on 18 December 2012
RAM Ratings has received
confirmation that Adventa Berhad (“Adventa”) has made an early redemption of
the outstanding notes under its RM150 million Islamic Commercial Papers/Islamic
Medium-Term Notes Programme (2011/2018) (“ICP/IMTN”). The redemption had been
effected through a sukuk swap exercise with Aspion Sdn Bhd’s (“Aspion”) RM150
million Islamic Commercial Papers/Islamic Medium-Term Notes Programme
(2012/2018) (“debt instrument”). Aspion is a special-purpose company
incorporated in July 2012, to take over the majority of Adventa’s assets and
liabilities.
Following this exercise, RAM
Ratings no longer has any rating obligation on the ICP/IMTN, previously rated
AAA(bg)/P1 with a stable outlook. For more details on Aspion’s debt instrument,
please refer to our press release on Aspion, dated 10 December 2012.
Media contact
Juliana Koay
(603) 7628 1169
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