NEW YORK, May 27, 2015 /PRNewswire/ -- RA Holding Corp. ("RA Holding" or "the Company") proudly announced today that it has authorized the redemption of all of the remaining $142.6 million of the outstanding sukuk certificates issued pursuant to the Second Amended Joint Plan of Reorganization of Arcapita Bank B.S.C.(c) (the "POR"). Upon the completion of the redemption, the Company will have redeemed all of the $550 million of the sukuk certificates issued pursuant to the POR, in addition to approximately $100 million of profit that had accrued on the certificates.
The redemption of the sukuk certificates was made possible as a result of the Company having successfully exited, in 2015, its investments in Lusail Golf Development, PODS, Inc., Freightliner Group Limited, JJill and Honiton Energy. As the Company continues to monetize its remaining investments, it expects to be in a position to make distributions in connection with the Company's Class A Preferred Shares.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER TO PURCHASE OR A SOLICITATION OF AN OFFER TO SELL ANY SECURITIES
About RA Holding Corp.
RA Holding Corp. is the top level holding company in the group created pursuant to the plan of reorganization of Arcapita Bank B.S.C.(c) and certain affiliates under chapter 11 of the United States Bankruptcy Code.
Press Contact: Allan Ripp 212-262-7477 email@example.com
SOURCE RA Holding Corp.