AMTD Idea gains consents to amend 7¼% senior perpetuals

By Mary-Katherine Stinson

Lexington, Ky., May 12 – AMTD Idea Group reported the early success of its consent solicitation seeking to amend its $450 million 7¼% senior perpetual securities (ISIN: XS2161843789), according to a notice.

As previously reported, the issuer was requesting holders of the dollar-denominated perpetual securities to enter into extraordinary resolutions given by way of electronic consents and, if they think fit, to make adjustments to the terms of the securities.

Voting instructions were due by 11 a.m. ET on May 12. However, before the receipt deadline, AMTD reported that holders of at least 90% of the outstanding amount of securities voted in favor of the extraordinary resolutions, making them effective on May 11.

With the passage of the extraordinary resolutions the distribution basis of the perpetuals is 7¼% up to May 14 and is 1½ % after that date and there is not a right to receive a distribution on the outstanding nominal amount from Nov. 14 to, but excluding, May 14.

The information and tabulation agent is Morrow Sodali Ltd. (amtd@investor.morrowsodali.com; +852 2319 4130 or +44 20 4513 6933).

Details of the extraordinary resolutions will be made available to securityholders through Euroclear Bank SA/NV and Clearstream Banking SA, according to the notice.

AMTD, based in Hong Kong, is engaged in investment banking, asset management and strategic investment businesses.

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