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Singapore’s Tuan Sing accepts tenders for S$40 million of 7¾% notes
By Marisa Wong
Los Angeles, Oct. 14 – Tuan Sing Holdings Ltd. announced it has accepted for purchase S$40 million of its 7¾% notes due May 19, 2022 (ISIN: SGXF36892523) under its Oct. 1 cash tender offer for any and all of the S$65 million of outstanding notes.
The offer expired on Oct. 14. Settlement is expected to be on Oct. 15.
The purchase price for the notes is 102 plus accrued interest.
After cancellation of the accepted notes, the outstanding principal amount will be S$25 million.
The notes were issued under the company’s S$900 million multicurrency medium-term note program.
Credit Suisse (Singapore) Ltd. (+65 6212 2000, list.piltender@credit@suisse.com), DBS Bank Ltd. (+65 6878 9821, liabilitymanagement@dbs.com) and United Overseas Bank Ltd. (+65 6539 2138/2200/1205, sgdcmfixedincome@uobgroup.com) are managers of the tender offer.
Tricor Barbinder Share Registration Services, a division of Tricor Singapore Pte. Ltd., is the tender agent.
Tuan Sing is a Singapore-based investment holding company with interests mainly in property development, property investment and hotel ownership.
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