Singapore’s Vallianz defers payout for $22.5 million 4% perpetuals

By Susanna Moon

Chicago, July 5 – Vallianz Holdings Ltd. said it exercised its option to defer Thursday distribution for $22.5 million 4% senior perpetual securities.

The payment that was originally due on July 5 will be deferred on the basis that during the 12-month period ending the day before the scheduled distribution payment date, according to a notice:

• No dividend, distribution or other payment had been 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.

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

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