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Tuan Sing launches capped tender offer for 6.9% notes due 2024
By Marisa Wong
Los Angeles, Oct. 17 – Singapore’s Tuan Sing Holdings Ltd. is inviting holders of its S$141.75 million outstanding 6.9% series 004 notes due Oct. 18, 2024 (ISIN: SGXF30090785) to offer to sell for cash some or all of their notes, up to a maximum acceptance amount, according to a notice.
The maximum acceptance amount will be announced when the issuer prices a concurrent offering of new Singapore dollar fixed-rate notes. The issuer said it may decide to increase or decrease the tender offer cap.
The issuer is offering to purchase the notes at 102 plus accrued interest.
The offer expires at 10 p.m. ET on Oct. 30.
Settlement is slated for Nov. 1.
DBS Bank Ltd., Deutsche Bank AG, Singapore Branch and United Overseas Bank Ltd. are the dealer managers.
Tricor Barbinder Share Registration Services (+65 6236 3550 / 3555; is.corporateactions@sg.tricorglobal.com) 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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