Singapore’s Aspial buys S$10 million 5˝% notes in tender as of Friday

By Susanna Moon

Chicago, Aug. 27 – Aspial Corp. Ltd. repurchased S$10 million of its 5˝% notes due 2018 on Friday in the tender offer that had been scheduled to run from Aug. 16 until Aug. 30.

The offer has been fully subscribed and Aspial will not be repurchasing any more notes tendered in the offer, according to a company update on Monday.

Settlement has been set for Aug. 29.

The company announced the tender on Aug. 15 and said it was offering to repurchase the series 004 notes up to the capped amount at par in cash, or S$250,000 for each S$250,000 principal amount plus accrued interest.

DBS Bank Ltd. is the buyback agent.

The company previously said that if the offer were oversubscribed, it would decide which notes to repurchase and what the amount would be.

The notes were issued under the Singapore-based jeweler’s S$700 million multicurrency debt issuance program.

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