RAM Ratings has received confirmation that Binariang GSM Sdn Bhd (”BGSM” or “the Group”) partially redeemed RM1.06 billion of its Senior Sukuk and prepaid USD6.87 million of its USD-denominated term loan on 30 August 2012, pursuant to the requirements of the Senior Sukuk Trust Deed dated 18 December 2007 and the USD Term Loan Facility Agreement dated 19 December 2007.
The partial redemption had been prompted by the sale of BGSM’s indirect 5%-stake in Maxis Berhad (”Maxis”). Following the sale, Maxis Communications Berhad, the wholly owned subsidiary of BGSM, now has a direct shareholding of 65% in Maxis…………………………………….Full Article: Source