Adventa Berhad makes early redemption of Islamic debt facility
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.
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© Press Release 2012
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