| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for Aspial Treasury Pte. Ltd. > News item |
Aspial gives results of cash tender, exchange offers for 6¼% notes due 2021
By Rebecca Melvin
Concord, N.H., June 23 – Singapore’s Aspial Treasury Pte. Ltd., a subsidiary of Aspial Corp. Ltd., announced results of the company’s tender and exchange offer for S$78.5 million outstanding of 6¼% series 006 notes due Oct. 11, 2021 (ISIN: SGXF18413694), according to a company news release on Wednesday.
In the tender offer option, S$2.25 million of notes were validly tendered and accepted for purchase by Aspial. The company had been offering to buy up to S$10 million of the notes in cash at par plus accrued interest.
Under the exchange option, S$66 million of the notes were validly exchanged and accepted by Aspial. The company was offering to exchange any and all of the existing notes for a like principal amount of 6% notes due July 1, 2022. There was also an exchange fee of 0.5% of par.
Both offers expired at 10 a.m. ET on June 22, and neither was extended. Settlement is expected to take place on July 1.
Following cancelation of the accepted tendered and exchanged notes, there will be S$10,020,000 of the notes remaining outstanding, and funds to redeem the notes when they mature on Oct. 11 have been set aside.
About 95% of the S$66 million in principal amount of the new notes to be issued under the invitation have been allocated to certain controlling shareholders of the ACL, ATPL and related entities.
The new notes will be issued pursuant to the company’s S$700 million multicurrency debt issuance program and guaranteed by Aspial Corp. Ltd.
CIMB Bank Bhd., Singapore Branch (+65 6661 2189, sgb.dcm@cimb.com) is dealer manager of the offers. Tricor Barbinder Share Registration Services (+65 6236 3550/3555, e-mail: is.corporateactions@sg.tricorglobal.com) is the tender agent and exchange agent.
Aspial is a Singapore-based company operating in jewelry retail, property development and financial services.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.