Tuan Sing accepts S$107.75 million of 6.9% notes from tender offer

Chicago, Oct. 31 – Singapore’s Tuan Sing Holdings Ltd. announced the results of its capped tender offer for its S$141.75 million outstanding 6.9% series 004 notes due Oct. 18, 2024 (ISIN: SGXF30090785) that ended at 10 p.m. ET on Oct. 30, according to an announcement.

The company will be repurchasing S$107.75 million principal amount of the notes.

The purchase price was announced when the offer started as 102 plus accrued interest.

The cap was going to be determined based on a new offering of notes. Tuan Sing recently priced S$150 million of 7˝% notes due 2027, with settlement slated for Nov. 2.

Settlement of the tender offer is planned for Nov. 1.

After settlement, there will be S$34 million of the notes outstanding.

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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