Soilbuild repurchases S$42.5 million of 1% convertibles following put

By Jennifer Chiou

New York, July 31 - Soilbuild Group Holdings Ltd. announced the purchase of the remaining S$42.5 million of its S$60 million of issued 1% convertible bonds due 2011 that holders put back to the company.

In all, the company paid S$45,807,521 for the bonds.

The company first informed holders of the put option on June 9.

The put purchase price was S$269,428.61 for every S$250,000 in bonds. The conversion price was S$1.74 at the time of the announcement.

The put had to be exercised by June 12, and bondholders had to notify the company of their intention to put by July 3.

Bank of New York Mellon was the principal agent and paying agent.

Soilbuild is a Singapore-based property developer.

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