SunCity cancels RM500m Islamic debt facility

KUALA LUMPUR: Sunway City Bhd (SunCity) cancelled its RM500 million Islamic debt notes (2007-2022) ahead of the scheduled maturity date of Oct 8, 2022.

RAM Rating Services Bhd said on Wednesday, June 15 it had received confirmation about SunCity's cancellation of the the Murabahah commercial papers/medium term notes programme (2007/2022) (CP/MTN).

"There was no outstanding CP or MTN when cancelled. As such, RAM Ratings no longer has any rating obligation on the debt facility and the A2/P1 ratings have been withdrawn," it said.

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