BGSM's Senior Sukuk consists of a RM19 billion Islamic Medium-Term Notes Programme (rated AA3, with a negative outlook) and a RM2 billion Islamic Commercial Papers Programme (rated P1), of which only RM7.2 billion Senior Sukuk remains outstanding post the above mentioned redemption. There is no outstanding amount under the Commercial Papers Programme. In addition, the Group has a USD900 million Cumulative Non-Convertible Islamic Junior Sukuk (rated A2, with a negative outlook).
BGSM is an investment-holding company with subsidiaries and affiliates that are involved in the Malaysian, Indian and Indonesian cellular telecommunication markets, via Maxis, Aircel Limited ("Aircel") and PT Axis Telekom Indonesia, respectively.
Meanwhile, RAM Ratings is closely monitoring the progress of the Group's corporate-restructuring exercise to decouple Aircel. We have been informed that the Group is in consultation with its advisors to determine and implement an optimal structure to satisfy this objective.
We will continue monitoring developments on these fronts and publish our findings on completion of our review.
Media contactLee Chai Len(603) 7628 firstname.lastname@example.org
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