Singapore’s Lum Chang offers notes due 2021 for 5˝% notes due 2019

New York, Aug. 29 – Lum Chang Holdings Ltd. is offering 5.8% notes due 2021 in exchange for its existing S$50 million of 5˝% notes due 2019, according to an announcement.

The existing notes will be exchange on a one-for-one basis, the company said.

It will also pay an early exchange fee of 6 basis points for notes tendered by the early deadline of 5 a.m. ET on Sept. 19 or a normal premium of 3 bps for notes tendered by the expiration of 12 a.m. ET on Sept. 21.

The company will also pay accrued interest on the existing notes up to but excluding the settlement date.

Lum Chang said it is carrying out the exchange in order to allow holders of the existing notes to remain invested in the company rather than have their holdings taken out by the upcoming redemption of the debt.

Additional 5.8% notes are expected to be offered for cash.

CIMB Bank Bhd. is dealer manager and Tricor Barbinder Share Registration Serices is exchange agent.

Lum Chang is a Singapore construction company.

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