Al-'Aqar Healthcare REIT funding conduit to redeem RM1b Islamic bonds

Al-'Aqar Healthcare REIT funding conduit to redeem RM1b Islamic bonds
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KUALA LUMPUR (April 30): Al-'Aqar Healthcare REIT's funding conduit Al-'Aqar Capital Sdn Bhd (issuer) will fully redeem the latter's RM1 billion Islamic bonds on Tuesday (May 4) in conjunction with the maturity of the medium term notes under the Islamic principle of Ijarah, according to facility agent Maybank Investment Bank Bhd.

"As facility agent, we wish to inform that the issuer shall fully redeem the sukuk Ijarah under stock code nos. VI180185, VI180370, VI180186, VI180369 and VI180187 on the expected maturity date of May 4, 2021," Maybank said in a filing on Wednesday (April 28) evening with Bank Negara Malaysia's Fully Automated System for Issuing/Tendering (FAST) website.

Maybank did not elaborate.

According to Al-'Aqar Healthcare REIT's website, the property trust, which was listed on Bursa Malaysia's Main Market on Aug 10, 2006, was established with an initial portfolio of six properties before growing its portfolio to 23 properties comprising 17 hospitals, three wellness/health centres, two colleges and one aged care and retirement village.

Al-'Aqar Healthcare REIT, which is managed by Damansara REIT Managers Sdn Bhd, a wholly-owned subsidiary of Johor Corp, is supported by KPJ Healthcare Bhd, the property trust said.

During Bursa's 12.30pm break today, Al-'Aqar Healthcare REIT's unit price settled unchanged at RM1.30 for a market value of about RM956.79 million.

Al-'Aqar Healthcare REIT has 735.99 million issued units, according to its latest annual report.

Chong Jin Hun