Singapore’s Ezion issues call to redeem 5¼% notes due 2015

By Toni Weeks

San Luis Obispo, Calif., June 18 – Ezion Holdings Ltd. has issued a call to redeem its outstanding S$7.25 million of 5¼% notes due 2015 at par plus accrued interest on June 26.

The company completed a tender offer for the notes on June 11, taking in tenders for S$92.75 million of the outstanding S$100 million of the notes by 10 p.m. ET on June 9, the expiration of the tender offer.

Holders who had tendered their notes also voted in favor of a measure to amend the notes to include a call option at par plus accrued interest. A noteholder meeting was held in Singapore on June 12, at which votes representing S$92.75 million principal amount of the notes were in favor of the resolution.

Settlement of tendered notes accepted for purchase occurred on June 18, according to a company announcement.

DBS Trustee Ltd. is the trustee.

Singapore-based Ezion specializes in marine logistics and support for the offshore oil and gas industries. The tender offer began on May 19.

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