Singapore’s Jurong Shipyard receives consents for notes due 2021, 2029

Chicago, Oct. 24 – Singapore’s Jurong Shipyard Pte. Ltd. gave the results of its consent offer for its S$275 million 2.95% notes due 2021, series 005, and its S$325 million 3.85% notes due 2029, series 006, according to a notice.

Both extraordinary resolutions passed without any amendment.

The issuer was seeking to amend the definition of “consolidated net borrowings” to exclude any loans granted under its subordinated facility agreement.

Voting was open until Oct. 21.

The issuer is offering an early consent fee of 20 basis points for the 2021 notes and 90 bps for the 2029 notes to holders who delivered their consents by 5 a.m. ET on Oct. 10.

Holders of either series of notes who delivered their consents after the early deadline were eligible to receive a consent fee of 10 bps.

Payment of the consent fee was subject to passage of the extraordinary resolutions containing the amendments.

DBS Bank Ltd. (liabilitymanagement@dbs.com) is the solicitation agent.

The marine engineering group is based in Singapore.

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