RAM Ratings has received confirmation that Binariang GSM Sdn Bhd (BGSM) has partially redeemed RM3.77 billion of its Senior Sukuk and prepaid US$1.1 billion (US$1 = RM3.37) of its US-denominated term loan on February 25 2010.
BGSM’s Islamic securities consist of a RM19 billion Islamic Medium-Term Notes Programme and a RM2 billion Islamic Commercial Papers Programme (collectively known as the Senior Sukuk).
In addition, BGSM has a Ringgit equivalent of US$900 million Cumulative Non-Convertible Islamic Junior Sukuk (rated A2, with a stable outlook).
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