Singapore’s Gallant Venture wraps tenders for 5.9%, 7% notes due 2017

By Susanna Moon

Chicago, Jan. 26 – Gallant Venture Ltd. repurchased S$30 million of its 5.9% notes due May 12, 2017 and S$13.25 million of its 7% notes due Aug. 2, 2017 in the tender that ran from Jan. 20 to Jan. 26.

As of settlement on Feb. 1, the outstanding amount will be S$120 million for the 5.9% notes and S$61.75 million for the 7% notes, according to a company update.

The company said on Jan. 19 that it was tendering for up to S$30 million of its 5.9% notes and up to S$15 million of its 7% notes.

The purchase price per S$250,000 principal amount is S$243,750 for the 5.9% notes and S$237,500 for the 7% notes.

The company will also pay accrued interest.

The investment holding company is based in Singapore.

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