Singapore’s Vallianz defers distribution for 4% perpetuals

Chicago, Jan. 5 – Vallianz Holdings Ltd. exercised its right to defer distribution for its $22.5 million perpetual securities with a 4% distribution rate, according to an announcement.

According to the terms and conditions, the deferral is warranted in that there has been no dividend, distribution or other payment paid or declared by the company for any of the company’s junior obligations; and none of the company’s junior obligations had been redeemed, reduced, canceled, bought back or acquired for any consideration by the company over the last 12 months.

Vallianz is a marine vessel and equipment company based in Singapore.

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