Published: Friday September 21, 2012 MYT 11:02:00 AM
Mid Valley Capital redeems RM200m bonds
KUALA LUMPUR: Mid Valley Capital Sdn Bhd (MVCap) has redeemed the RM200mil outstanding balance on its bonds ahead of the expected maturity date of Sept 15, 2016
RAM Rating Services Bhd said on Friday it had received confirmation MVCap had redeemed the Class 1 Series C to F redeemable secured bonds (2004/2017) on Thursday.
"The early redemption follows the proposal to inject Mid Valley Megamall - the underlying collateral for the Bonds - into IGB Real Estate Investment Trust (IGB REIT)," it said. IGB REIT was listed on Friday.
Following the redemption, RAM Ratings has withdrawn the AAA rating of MVCap and no longer has any rating obligation on the bonds.