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

By Tali Rackner

Norfolk, Va., Jan. 19 – Gallant Venture Ltd. is proposing a tender offer for up to S$30 million of its 5.9% notes due May 12, 2017 and up to S$15 million of its 7% notes due Aug. 2, 2017, according to a press release.

For each S$250,000 principal amount of notes, the total consideration 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 offer will be open from Jan. 20 to Jan. 26.

Holders interested in tendering their notes should contact DBS Bank Ltd., the buyback agent. Beneficial owners of the notes who are wealth management customers and are interested in tendering their notes should contact their wealth management relationship managers directly.

The investment holding company is based in Singapore.

© 2015 Prospect News.
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