Singapore’s Tuan Sing begins tender for S$65 million 7¾% notes

By Rebecca Melvin

New York, Oct. 1 – Tuan Sing Holdings Ltd. commenced a cash tender offer for its S$65 million outstanding 7¾% notes due May 19, 2022 (ISIN: SGXF36892523) and plans to issue new notes to fund the tender, according to a company news release.

The existing notes were issued under the company’s S$900 million multicurrency medium-term note program.

The purchase price for the notes is 102 plus accrued interest.

The tender offer expires on Oct. 14 with settlement anticipated on Oct. 15.

Credit Suisse (Singapore) Ltd. (+65 6212 2000, list.piltender@credit@suisse.com), DBS Bank Ltd. (+65 6878 9821, liabilitymanagement@dbs.com) and United Overseas Bank Ltd. (+65 6539 2138/2200/1205, sgdcmfixedincome@uobgroup.com) are managers of the tender offer.

Tricor Barbinder Share Registration Services, a division of Tricor Singapore Pte. Ltd., has been appointed as the tender agent.

Tuan Sing is a Singapore-based investment holding company with interests mainly in property development, property investment and hotel ownership.

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