Malaysia’s Cerah holders put $496.25 million 0% bonds due 2024

By Mary-Katherine Stinson

Lexington, Ky., July 15 – Khazanah Nasional Bhd announced that bondholders holding $496.25 million in 0% guaranteed exchangeable bonds due 2024 (ISIN: XS2027352405) exchangeable into ordinary shares of CIMB Group Holdings Bhd. issued by Cerah Capital Ltd. have exercised their put option in a notice on July 8, according to multiple releases.

The bonds will be redeemed at par on Aug. 8.

After the redemption, there will be $3.75 million outstanding which is less than 10% of the original $500 million issue.

As a result, Cerah has issued a clean-up call for the remaining outstanding bonds. They will be redeemed at par on Aug. 15.

Bank of New York Mellon is the principal bond agent.

Khazanah Nasional Bhd. is the guarantor.

Cerah Capital is a financial services company based in Labuan, Malaysia.

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