Bayfront Infrastructure Capital completes $412.2 million redemption

By Mary-Katherine Stinson

Lexington, Ky., Aug. 31 – Bayfront Infrastructure Capital Pte. Ltd. completed the $412.2 million early redemption of its rated notes at par together with any accrued interest on Aug. 31, according to a notice Wednesday.

As previously reported, holders of its $45.8 million outstanding subordinated notes due 2038 (ISIN: XS1830131063) voted via an extraordinary resolution on July 29 to exercise their right for the issuer to redeem the outstanding class A, B and C notes through the liquidation or realization of the collateral.

The redeemed rated notes were from the following series: $320.6 million outstanding class A senior secured floating-rate notes due 2038 (ISIN: XS1830126576); $72.6 million outstanding class B senior secured floating-rate notes due 2038 (ISIN: XS1830129919); and $19 million outstanding class C senior secured floating-rate notes due 2038 (ISIN: XS1830130925).

The certificates representing the rated notes will be canceled.

The notes had an original maturity date of Nov. 1, 2038.

Clifford Capital Pte. Ltd. is the collateral manager.

DB International Trust (Singapore) Ltd. is the trustee.

Based in Singapore, Bayfront is a financial services company focused on the issuance of securitization notes.

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