Aspial buys back S$250,000 of 6˝% series 007 notes due 2025

By Mary-Katherine Stinson

Lexington, Ky., March 20 – Aspial Treasury Pte. Ltd., a subsidiary of Singapore’s Aspial Corp. Ltd., reported it repurchased S$250,000 of its 6˝% series 007 notes due March 20, 2025 (ISIN: SGXF39054444) at par, according to an announcement.

The repurchases were made from Dec. 1 to and including the original maturity date of March 20, 2023.

As previously reported, on Dec. 1 the company invited noteholders who did not sign the resolution to extend the maturity date of the notes to tender their notes at par plus accrued interest from Sept. 20 to the original maturity date.

The issuer and DBS Trustee Ltd. amended and restated the June 10, 2013 trust deed after gaining the approval of holders representing at least 90% of the series 007 notes outstanding.

The total principal amount of the series 007 notes outstanding following the repurchase remains at S$50 million with the repurchased S$250,000 being held by the company.

As of March 20, certain controlling shareholders of the company and/or entities and/or persons related to it hold 86.5% of the total principal of the series 007 notes outstanding.

Aspial is a Singapore-based company operating in jewelry retail, property development and financial services.

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