Singapore’s SATS’ extraordinary resolutions are passed for two notes

Chicago, Jan. 17 – SATS Ltd. announced the results of a consent solicitation exercise in connection with its S$200 million 2.88% series 001 notes due 2025 (ISIN: SGXF76236896) and S$100 million 2.6% series 002 notes due 2025 (ISIN: SGXF55720563), according to a notice.

The company was asking noteholders to approve proposed amendments and waivers of financial covenants. The company was seeking consents by way of extraordinary resolutions in writing instead of a meeting.

The deadline for delivering consents was Jan. 17.

The company announced that the extraordinary resolutions have been duly passed without any amendment.

A supplemental trust deed has been executed to effect the amendments for each series.

DBS Bank Ltd. and United Overseas Bank Ltd. were the solicitation agents.

SATS is a Singapore airport service company that provides ground handling and in-flight catering services at Changi Airport.

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