Singapore’s Aspial buys back S$15 million 4˝% notes due 2017 in offer

By Susanna Moon

Chicago, Nov. 22 – Aspial Corp. Ltd. has repurchased S$15 million of its 4˝% notes due 2017 as of Tuesday.

Aspial will repurchase no more of the notes because the tender cap has been met, according to a company notice.

As announced Nov. 16, the company was tendering for up to S$15 million of the 4˝% notes from Nov. 17 until Dec. 2 at 100.2 in cash, or S$250,500 for each S$250,000 principal amount plus accrued interest.

The repurchased notes will be canceled.

DBS Bank Ltd. is the buyback agent.

The company said on Oct. 31 that it repurchased another S$4.5 million of its 4˝% notes due 2017 in the open market.

Before that, in August, the company repurchased S$4 million of the notes.

After the October buyback, S$71.5 million of the original S$80 million principal amount was left outstanding.

The series 002 notes were issued in January 2014 under the Singapore-based jeweler’s S$700 million multicurrency debt issuance program.

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