By Mary-Katherine Stinson
Lexington, Ky., July 25 – Singapore Technologies Telemedia Pte. Ltd. issued an additional S$30 million of 5˝% subordinated perpetual securities, according to an announcement.
The securities are issued under the company’s S$3 billion multicurrency debt issuance program and will be consolidated and form a single series with the S$300 million of securities issued on July 11.
The company may opt to redeem the securities in whole, but not in part, at par plus accrued interest starting July 11, 2030 or on any subsequent distribution payment date, according to the terms of the original issue.
Semiannual distribution payments will be at a rate of 5˝% annually with the first distribution rate reset on July 11, 2030 and subsequent resets occurring every seven years onwards. The reset distribution rate will be the seven-year SORA-OIS rate with respect to the relevant reset date plus an initial spread of 224.7 basis points, plus a step-up of 100 bps per annum.
The securities were issued July 25 and will be listed on the Singapore Exchange effective July 26.
Singapore Technologies Telemedia is a Singapore-based investment holding company focused on communications, media and technology.
| Issuer: | Singapore Technologies Telemedia Pte. Ltd.
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| Issue: | Subordinated perpetual securities
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| Amount: | S$30 million
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| Maturity: | Perpetual
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| Coupon: | 5˝%, resets July 11, 2030 and every seven years thereafter at SORA-OIS plus 224.7 bps plus a step-up of 100 bps per annum
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| Call option: | On any distribution payment date starting July 11, 2030 in whole, but not in part, at par plus interest
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| Issue date: | July 25
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| Listing date: | July 26
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| Total issue size: | S$330 million, including S$300 million issued on July 11
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