Aspial purchases S$1 million of 6% notes in buyback offer

By Mary-Katherine Stinson

Lexington, Ky., July 1 –Aspial Treasury Pte. Ltd., a subsidiary of Singapore’s Aspial Corp. Ltd., reported the results of its buyback offer for the S$70 million 6% notes (ISIN: SGXF22368025), according to notices Friday.

Up to and including July 1, company has purchased S$1 million of the series 009 notes.

The total amount of the series 009 notes outstanding following the repurchase remains at S$70 million with the repurchased S$1 million being held by ATPL. As of July 1, ATPL together with certain controlling shareholders of ACL, ATPL and/or entities or related persons hold approximately 91% of the S$70 million series 009 notes outstanding.

As previously reported, the issuer and DBS Trustee Ltd. amended and restated the July 30, 2013 trust deed after approval of holders representing at least 90% of the series 009 notes outstanding approved a maturity extension on the notes by two years to July 1, 2024 from July 1, 2022.

The holders who did not sign the extension resolution were invited to sell back their notes at par plus accrued interest on the original July 1 maturity date.

Aspial Treasury was entitled to repurchase the series 009 notes either by itself or through any related corporation on its behalf.

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

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