IslamicFinance.de

Bernama reported on 18 April that Lingkaran Trans Kota Sdn Bhd (Litrak) fully redeems senior and junior debt issues.

RAM said, it will maintain surveillance on the AA2 ratings of Litrak's Sukuk Musyarakah Islamic Medium-Term Notes I Programme of up to RM1.15 billion and Sukuk Musyarakah Islamic Medium-Term II Programme up to RM300 million, as well as the P1 rating of the company's Islamic Commercial Papers Programme of up to RM100 million.

All the long-term ratings have a stable outlook, it said.

Source: http://www.bernama.com.my/bernama/v3/news_business.php?id=327699

Yong Yen Nie reported in The Edge on 18th March about Lingkaran Trans Kota Holdings Bhd (Litrak), which may return RM 1 per share after debt refinancing. The firm proposed last Friday the issuance of up to RM1.55 billion in Islamic debt papers under a sukuk programme. The new debt issue is meant to refinance the highway concessionaire’s existing borrowings and redeemable unsecured loan stocks of RM1.2 billion and to fund working capital and other operational purposes.

Analysts said the proceeds from the sukuk bond issue would fully retire Litrak’s existing debts that were taken to fund the construction of the Damansara-Puchong Expressway (LDP).

Source: http://www.theedgedaily.com/cms/content.jsp?id=com.tms.cms.article.Artic...