Singapore Press suspends consent solicitation for 3.2% notes due 2030

Chicago, Nov. 1 – Singapore Press Holdings Ltd. suspended its recently started solicitation of consents from holders of its S$500 million of 3.2% notes due 2030, which were issued under a S$1 billion multicurrency debt issuance program, according to a notice.

The company has received a proposal by Cuscaden Peak Ptd. Ltd. to acquire all of its issued ordinary shares.

The company will not proceed with the consent solicitation while the proposal is being considered by the its board.

Any consents already delivered will not be accepted.

An investor call scheduled for Nov. 3 is canceled.

The company was seeking approval to waive conditions of default and amend provisions of the notes pertaining to a guarantee that was to be given by Keppel Land Ltd. regarding obligations under the notes and to delete references to its principal subsidiaries and group, as well as to make other adjustments.

Oversea-Chinese Banking Corp. Ltd. had been appointed as the company’s solicitation agent.

The publishing company is based in Singapore.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.