Aspial starts cash tender, exchange offer for 6¼% notes due 2021

By Rebecca Melvin

Concord, N.H., June 11 – Singapore’s Aspial Treasury Pte. Ltd., a subsidiary of Aspial Corp. Ltd., began a tender and exchange offer for S$78.5 million outstanding of 6¼% series 006 notes due Oct. 11, 2021 (ISIN: SGXF18413694), according to a company news release on Friday.

In the tender offer option, Aspial is offering to buy up to S$10 million of the notes in cash at par plus accrued interest.

Under the exchange option, Aspial is offering to exchange any and all of the existing notes for a like principal amount of 6% notes due July 1, 2022. There is also an exchange fee of 0.5% of par.

The new notes will be issued pursuant to the company’s S$700 million multicurrency debt issuance program and guaranteed by Aspial Corp. Ltd.

Both offers began on Friday and will end at 10 p.m. ET on June 22.

CIMB Bank Bhd., Singapore Branch (+65 6661 2189, sgb.dcm@cimb.com) is dealer manager. Tricor Barbinder Share Registration Services (+65 6236 3550/3555, e-mail: is.corporateactions@sg.tricorglobal.com) is the tender agent and exchange agent.

Aspial is a Singapore-based company operating in jewelry retail, property development and financial services.

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